February 2023 – NEWSLETTER

Helping people intentionally design their wealth in a way that shapes their most inspired life.

Laying The Groundwork For Tax Season

Smart moves at the beginning of tax season can help get your financial house in order.

Contrary to popular belief, tax planning isn’t limited to the months between year-end and April 15. In fact, smart tax planning goes beyond deductions and credits and should be incorporated throughout the year. As you prepare to file your returns, Click here to take a look at what you should be thinking about for tax season and beyond.




Feb 15 – Raymond James begins mailing 1099 tax statements

Feb 20 – Financial Markets are closed for President’s Day

Feb 28 – Raymond James mails amended 1099s and those delayed due to specific holdings and/or income reallocation

May 12 – Shred Event 11:30 am – 1:30 pm

We will have a paper shredding truck on-site exclusively for our clients

Nov. 27 – Dec. 1 – Food Drive to support the Jackson Community Food Pantry

​We Are Hiring!

We are actively looking for the right person to fill a Client Service Associate position.

As our clients, you are well aware of the high level of service we deliver to our clients. If you know someone that may be interested in this position, please share the job description with them and encourage them to apply!

Job Description


Tax time is around the corner. Everyone is anxious to receive their 1099s. Retirement tax packets for 1099R and 5498 will be mailed by January 31, but Raymond James begins mailing other 1099s on February 15th.

Also, sometimes a corrected 1099 may be issued, so be sure not to schedule a time with your tax preparer too soon.

Once the 1099s are completed, they can be accessed on-line if you have established a user id and password with Raymond James Client Access. If you have signed up for e-delivery of documents, you will receive an email when your 1099 posts.

If you still need to sign-up for e-delivery, please see the article below or call our office at 517-787-4444.

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Go Paperless In 2023

Start the year fresh by going paperless! Client Access and e-delivery allow you to access all your financial information at any time and place. By enrolling in Client Access and electing e-delivery, you can reduce clutter and have access to your account information – old and new – without having to dig through your filing cabinet.

As an added bonus, by going paperless you may qualify for an annual credit of $25 from Raymond James.

1:35 minute video on how to enroll

Enroll in Client Access

Making Data Privacy a Priority in 2023

As our lives become more digitally integrated, our data becomes more valuable.

Often, data collectors say that the vast amount of information they take in is tightly secured or anonymized before it is packaged and resold. However, MIT researchers discovered in 2018 that individuals could be identified by combining two anonymized data sets covering the same population. A 2019 series from The New York Times went further, exposing the risk to privacy on a massive scale if a major tech firm’s anonymized location data was stolen and cross-referenced to publicly available property records.

As long as consumers’ concerns about privacy remain limited, there is little incentive for companies to cull their data collecting habits. When buying a new smart device such as a phone, tablet or computer or using a new service, look into its commitment to privacy. The market for such devices is growing, but at the moment they tend to be on the premium side of the product spectrum. Expect that to change as this topic gains traction.

In the meantime, here are some best practices to help minimize the amount of your information that data collectors can access.

Turn off personalized ads
Many of the largest ad space sellers, particularly those providing tech services like email and social media, now give the option to depersonalize your advertising experience. They’ll still collect the information, but there are some limits to how specifically targeted the ads can be. This is becoming a battleground topic in the tech industry, as companies that don’t rely on ad sales are finding privacy to be a strong selling point.

Skip the quiz
That silly online quiz to help you determine which fast food mascot you are may be mining serious information about you. Though it’s a bad practice, many online accounts rely on security questions to establish your identity, questions that are easily snuck into online quizzes.

Go digital and shred the rest
Your home or driveway may be advertising your wealth, making your mailbox and your trash a target. Despite the well-publicized thefts of user data in recent years, an online account is in many ways more secure than an unlocked mailbox, and generally less personal. Privacy experts recommend making the switch, and when you do get mail that contains information about your health, finances or family, make sure to shred it before you toss it.

Know what health data is being collected
The Health Insurance Portability and Accountability Act, or HIPAA, protects the information shared with your care provider. There is no similar regulation for health data you share with your fitness device manufacturer. It’s worth your while to make sure you understand what information is being collected and for what purposes. Go into the device settings to see what options you have. The EULA, or end-user license agreement, will have more information if you can read legalese.



Sources: The New York Times; Vox; The Washington Post; Fast Company; Massachusetts Institute of Technology; Consumer Reports; NPR; Goldman Sachs; ZDNet.com

The Paramount Wealth Management Team

Don Hershberger, CFP®, AIF®, CRC®, Founder and President, PWM, was named on the 2022 Forbes Best-in-State Wealth Advisor list.

420 South Brown Street Jackson, MI 49203
Phone: 517-787-4444
Fax: 517-795-2530
[email protected]

Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Paramount Wealth Management is not a registered broker/dealer and is independent of Raymond James Financial Services.

The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 34,925 nominations, more than 6,550 advisors received the award. This ranking is not indicative of an advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors for more info.

 Any opinions are those of the author and are not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. All opinions are as of this date and are subject to change without notice. All opinions are as of this date and are subject to change without notice.

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