Lola Saratoga, a boutique offering a finely-curated selection of high-end accessories and specializing in authentic pre-owned and vintage designer handbags, opened a second storefront at the outdoor lifestyle shopping center in Stuyvesant Plaza, Albany.
By Christine Graf
As 2019 draws to a close, local tax professionals advise individuals who pay estimated quarterly taxes to review their annual income in order to determine if they will owe a penalty to the IRS.
Estimated tax payments are paid by business owners who operate partnerships, LLCs, sole proprietorships, and S corporations. Business income from these pass-through tax entities passes through to business owners on their personal income tax returns.
Those who operate pass-through tax entities are required to make estimated quarterly tax payments to pay income tax and self-employment tax on income that is not subject to withholding.
The IRS requires estimated quarterly tax payment to be filed by anyone who expects to owe at least $1,000 in federal income taxes. This year’s fourth quarter estimated tax payments are due on Jan. 15. Estimated taxes must also be paid quarterly to New York state.
According to Kevin Hedley, CPA, of Hedley & Co. CPA’s in Clifton Park, business owners who are in an underpayment penalty situation should consider making contributions to a retirement plan.
Provided By Sherry Finkel MurphY Associate Wealth Management Advisor
For most people, saving for retirement means making steady contributions to a 401(k) until they hit a specific goal. However, a broader approach to saving and investing offers more options for building that nest egg.
Keep in mind that where you put your money is as important as how much you save. That’s because each savings strategy has tax considerations that can impact how much you’ll have when it’s time to take the money out. By keeping a mix of tax-free and tax-deferred sources of income, you’ll have the flexibility to withdraw funds strategically during retirement, based on tax and market implications.
While tax-qualified retirement plans like 401(k)s and 403(b)s are the most common retirement savings plans, they shouldn’t be your only option. These plans give you the ability to make pretax contributions that reduce your taxable income today. However, you’ll have to pay taxes on those dollars when you make withdrawals. This can greatly reduce the amount of money you’ll have to spend when you’re retired.
By Robert Snell
We’ve still got a couple of months until 2019 draws to a close, but it’s not too early to make some end-of-the-year financial moves. In fact, it may be a good idea to take some of these steps sooner rather than later.
Here are a few suggestions:
• Boost your 401(k) contributions. Like many people, you might not usually contribute the maximum amount to your 401(k), which, in 2019 is $19,000, or $25,000 if you’re 50 or older. Ask your employer if you can increase your 401(k) contributions in 2019, and if you receive a bonus before the year ends, you may be able to use that toward your 401(k), too.
• Add to your IRA. You have until April 15, 2020, to contribute to your IRA for the 2019 tax year, but the more you can put in now and over the next few months, the less you’ll have to come up with in a hurry at the filing deadline. For 2019, you can put up to $6,000 in your IRA, or $7,000 if you’re 50 or older.
The 33nd annual Victorian Streetwalk will be held Thursday night, Dec. 5 in downtown Saratoga Springs.
Sponsored by the Saratoga Springs Downtown Business Association, it will run from 6-9 p.m. Broadway will be closed to vehicle traffic starting at p.m. to from the ea past the Saratoga City Center to the north to the Spring Street intersection to the south.
CDTA will run free shuttle buses to the downtown area every 20 minutes—4:30-10 p.m.—from four parking lots: the Empire State College lot at 111 West Ave. on the city’s west side; silver sponsor NYRA’s Oklahoma training track at East Avenue and Union Avenue; the National Museum of Dance on South Broadway; and the Weibel Avenue skating rink parking lots on the east side of Saratoga Springs.
The Ballston Spa Business & Professional Association’s annual Ballston Spa Holiday Parade and Tree Lighting will takes place Friday, Dec. 6.
The step off time is 6:30 p.m., proceeding on Milton Avenue and ending in Wiswall Park on Front Street with Santa lighting the Christmas tree.
The parade is a hometown-style holiday tradition, with firetrucks, floats, animals, kids and Santa parading down the main street of the village.
By Rachel Phillips
The Capital Region has a new Baptiste affiliate yoga studio.
Located at 1714 Route 9 in Clifton Park, Baptiste Power Yoga Capital District is owned and operated by Sheryl Campbell, Jessica Padula and Tanya MacLeod.
“BPYCD teaches a powerful, energetic and playful style of power vinyasa yoga,” said Campbell.
The studio is open seven days a week, and offers classes for all levels, including beginners. They also have corporate wellness programs.
By Susan E. Campbell
A chiropractor with ties to the horse racing industry, including childhood days at Saratoga Race Course, is now helping a local chiropractic office grow.
Dr. Patrick Campbell is the first-ever associate at Turning Point Chiropractic, 125 High Rock Ave., in Saratoga Springs. He joined the team in June.
Dr. Adam Favro, who operates the practice, said Campbell’s “philosophy on healthcare and treatment aligns perfectly with the mission of the office.”
By Maria Savino
Do you ever feel tired, sluggish, unproductive, and like you are struggling to get through your day? I’m sure all of us have experience this at one time or another, but the reason for it may not be what you think.
Your lack of motivation or energy is not always due to lack of sleep or your mindset. Often, low energy and decreased productivity are the results of a poor diet.
Food is fuel and the different nutrients that you receive from food are essential for your body to perform certain tasks.
For example, carbohydrates are needed for energy, protein is needed for growth, development, and tissue repair, and fats are essential for cushioning our organs and insulating the body.
When your body lacks a certain nutrient it will let you know, often through unpleasant physical symptoms such as fatigue, headaches, or irritability.
The Wesley Health Care Center at The Wesley Community in Saratoga Springs has been named one of the Best Nursing Homes 2020 by Newsweek magazine.
The Wesley Health Care Center, which provides long-term care services to individuals with chronic medical needs, is one of only 63 nursing homes in New York state and 406 nursing homes in the U.S. to be recognized by the national magazine.