NorthAvenue would like to present our two new team members, Emily Paulus and Chris Smith! Emily Paulus: Client Service Associate Emily is our new Client Service Associate who will be handling a lot of the day-to-day communication with our clients going forward, similar to the role Stephanie Bailey held prior to her promotion to Associate Advisor last fall. Emily is originally from Columbus and now lives in Canal Winchester with her husband Josh. After graduating from The Ohio State University in 2019 with a Hospitality Management degree, Emily pursued financial services within the auto and hom ..read more

We hope you have been enjoying your summer! We wanted to share information on a few time-sensitive topics which impact a number of our clients and their loved ones. Please do not hesitate to reach out to a member of the NorthAvenue team if you have any questions. Expanded Child Tax Credits The American Rescue Plan temporarily increased child tax credits from $2,000 to $3,000/child for children ages 6-17. However, the additional $1,000/child tax credit increase is subject to a much lower income threshold of $150,000 for Married Filing Jointly, $112,500 for Head of Household, and $75,000 for Sin ..read more

Back in May, we sent a newsletter out about I bonds. Their interest rate is tied to inflation, which has increased substantially post pandemic. Many of you have worked with us to purchase these through TreasuryDirect.gov and those who did locked in the 9.62% interest rate for 6 months. Purchases made after October 28, 2022 will have the revised, but still high interest rate of 6.89%. This rate will apply to any I bonds purchased from October 29th 2022, through the end of April 2023. We are still recommending that anyone with excess cash consider purchasing I bonds at the rate of 6.89% as this ..read more

I Bonds: Worth Considering Throughout the pandemic, inflation rates have skyrocketed to rates not seen in decades. This sharp increase has caused many retirees without a comprehensive financial planner that has built inflation into their plan to worry about the sustainability of their retirement. This concern has caused a rising interest in I Bonds: US Treasury bonds with a variable interest rate tied to the current inflation rate. The current rate of these bonds is 7.12% (for the period of November 2021 to April 2022) and is expected to increase in May to 9.62%. This rate on a nearly risk-fre ..read more

Along with you, we have been adjusting to our new temporary normal. Many Americans are facing hardship right now, including some of our clients, and we have been working hard to help our clients weather this storm and keep you informed of the financial relief avenues that are being made available. Over the past month, we have all been inundated with news about COVID-19, but to by no means trivialize the seriousness of this situation, we thought that a break from the corona-news cycle would be a welcome change in your inboxes. Since we started working from home 4 weeks ago, we have been mi ..read more

We want to help more clients like you! So that we can better attract clients who would benefit from our all-inclusive and flat-fee financial planning services, we have been encouraged by marketing specialists to reach out to our clients to hear about what you like about us and what you value in our services. We would greatly appreciate your insight. To take the 3 question survey: Click Here! The third batch of stimulus checks are out and on their way. The American Rescue Plan, the third Coronavirus relief and recovery package, was signed into law. And, the tax deadline has been extended again ..read more

We are excited to offer Flourish Cash to clients of NorthAvenue. This is an exclusive benefit that allows you to earn more on the cash you keep in checking and savings accounts today. Flourish Cash supports a variety of account types including individual and joint accounts, revocable trusts, businesses, non-profits, partnerships, LLCs and more. Currently, the variable rate on the irst $250,000 of cash for individuals and businesses, and the first $500,000 of cash for joint accounts, is 4.25% APY, with remaining balances earning 3.00%. Other advantages include higher levels of FDIC insurance th ..read more

We hope everyone had a great start into the New Year. Our team is gearing up for tax season, and will be in touch later this month with our instructional email for 2022 taxes. You may or may not be aware that congress passed Secure Act 2.0 on December 29th, establishing new laws, many which are effective in 2023. We wanted to share a few key takeaways. As always, please do not hesitate to reach out with questions. RMD Changes · The Required Minimum Distribution (RMD) age has been pushed back again. In 2023 we are moving from age 72 to 73. In 2033, the age will get pushed back to 75. o We will ..read more

As we ride the other side of the outbreak bell curve and Ohio opens back up, we continue to evaluate when the right time will be to move back to our office space. At this time, our team is continuing to work from home remotely, and we feel fortunate to have been able to make this shift quickly and efficiently. We miss being in our office space, getting to see our clients, and seeing each other, but our top priority is the safety of our staff and our clients. We want to be sure that we aren't taking unnecessary risks when we do migrate back to our office space, especially given that some of our ..read more

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. This is a $2 trillion economic relief plan designed to provide assistance to over 90% of Americans. We will be sending out a series of summaries that address the multiple features of the bill. The coronavirus pandemic has created an enormous cash flow strain on both businesses and working individuals. The below summary provides information on two Small Business Administration (SBA) loan programs: The Paycheck Protection Program (PPP) and the Economic Injury Dis ..read more