Investment professional gives pointers for tax season

FORT WAYNE, Ind. (WANE) It’s tax season and Hefty Wealth Partners has some advice for a stress free process.

“The biggest mistake or the biggest reluctancy is for people to get a second opinion. There’s a lot of do-it-yourselfers out there, which there’s absolutely nothing wrong with that, but that reluctancy to get a second opinion, maybe on how to carry loss forwards or how to do some investments, or maybe the appropriate credits to take,” Edison Byzyka of Hefty Wealth Partners said.

Byzyka said have forms handy, like W-2s and 1099s.

“Those can be kind of tricky because those come at different dates. There’s no cut-off date, like a W-2 for example. I think clients or investors sometimes get frustrated with that but it is a very important piece of document that you need to have.”

According to Byzyka, investors should focus on leaving emotion out.

“Commodity has been at the forefront for a very long time and recently, oil prices have gained a little bit on some speculation on production cuts, but the main thing to keep in mind is those oil prices are helping equity prices. We’ve seen the stock market gain a significant amount of grounds since the lows in January and February of this year. What investors should be looking at economic wise and even stock market wise is just remove the emotion out of the equation and allow your investment objective do its thing,” Byzyka said. “Applying emotion toward processes and trying to apply emotion to economic variables and economic releases is probably not your best friend over the long term. So, that’s one of the main things we’ve noticed here over the past month.”

For questions, Byzyka can be reached by emailing him here.


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