Looking Back on a Tame First Quarter Market

Bob_WThe first quarter of 2014 is now in the record books. While we saw a lot of ups and downs – namely January lows and February highs – the market overall ended up relatively flat. The good news is that the market did not lose much, but the bad news is that it did not make much either. That is why, at times like these, we are very appreciative of the diversification of our portfolios.

 

April is not just the time for looking back to review the first quarter, it is also tax time! As you know, our Accounting department at Wamhoff works very hard leading up to April 15th, making sure clients are prepared. When clients come in for their tax appointments, one of the questions we hear most is “How long do I need to keep all of my records?” The answer is three years for tax returns. The only exception is if your return includes depreciation items. For general financial records, there is no definite rule, but typically three years of year-end or annual statements will suffice. If you have a question about your specific situation, please call us and we will help you determine how long to keep your records.

 

Last weekend in March, we held our very first Run/Walk to benefit Just Because We Care and our kids in Honduras. Nearly 350 people joined us for the 5k, 10k and 1 mile fun run that began and ended here at Streets of St. Charles. We dressed everyone in Honduran cowboy hats, gave out great shirts and fabulous awards. Mandy Murphey from Fox 2 News shared the story of her visit to Honduras and officially kicked off the race. Everyone had a great time, and I would like to thank everyone who joined us, as well as our sponsors who made the run a success. Our kids in Honduras are very appreciative of all of your support.

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As always, if there is anything we can do to help you or a loved one, please give us a call. Until next time, stay healthy, wealthy, and wise, and certainly stay tuned.

 

Regards,

Bob Wamhoff
Wamhoff Financial Planning & Accounting