ProfNet Expert Alerts Available on Avoiding Phantom Tax Brackets, How to Ditch Debt, Competing with Online Retail, and Choosing a Family Lawyer

NEW YORK, Jan. 6, 2020 /PRNewswire/ -- Below are experts from the ProfNet network who are available to discuss timely issues in your coverage area.  

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EXPERT ALERTS 

• Avoiding Phantom Tax Brackets
• How to Ditch Debt
• Competing with Online Retail
• Choosing a Family Lawyer

OTHER NEWS & RESOURCES 

• Blogger Conferences: Top Events to Attend in January & February 2020
• Blog Profiles: Book Blogs

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EXPERT ALERTS: 

Avoiding Phantom Tax Brackets
Justin Smith
Financial Planner
Savant Capital Management
"Millions of ordinary retirees with a six figure income fall prey to "Phantom Tax Brackets." The tax code is wildly complex, and all those rules create results that you wouldn't otherwise expect.
Avoiding the Phantom Tax Brackets: At the end of the year a retiree decides to pull $5,000-$10,000 out of his/her retirement account for some gifts and a vacation. How much do you think it will cost him/her in taxes? Some could pay up 40 to 55%, despite the fact that the top tax bracket is 37%. Retirees often fall prey to what we call Phantom Tax Brackets. And this is not an issue for billionaires; these phantom tax brackets will hit millions of ordinary retirees with six figure incomes. The good news is that retirees can potentially reduce their phantom tax burden, and their overall tax burden, by thousands each year if they have a plan. Retirees have income like Social Security, capital gains and qualified dividends that are subject to complex rules. They often also have deductions like health care expenses that are subject to income-based limitations. On top of that, Medicare premiums increase with income, acting as another layer of tax. The good news is that retirees can potentially reduce their phantom tax burden, and their overall tax burden, by thousands each year if they have a plan. Whatever your ideal future looks like, a Tax-Smart Roadmap for your Retirement is critical to ensure retirees can enjoy their life rather than being strangled by them.
Website: www.savantcapital.com  
Contact: Catherine Povalitis, [email protected]

How to Ditch Debt
John Boroff and Maura Cassidy
Boroff is director of retirement and college leadership; Cassidy is vice president of retirement and small business
Fidelity Investments
"People are becoming increasingly mindful of their money, prioritizing their financial future with money-related resolutions for 2020, such as saving more, paying down debt and spending less," said John Boroff, director of retirement and college product management. "The burden of personal debt is weighing heavily on many Americans and living a debt-free life is the top motivator for a financial resolution. To get started, we recommend working to pay down debt with the highest interest rates first and tracking your progress. Research shows paying down debt is one of the most effective ways to boost your overall financial well-being." "The key to achieving financial goals is creating a plan and sticking to it – both in good times and bad," said Maura Cassidy, vice president of retirement and small business at Fidelity Investments. "People are motivated by progress so build in opportunities to let that good feeling of success keep you on track all year long."
Fidelity Investments will unveil its 2020 New Year Financial Resolutions Study on Monday, December 9. The study reveals that Americans are feeling optimistic about their current and future financial situation, but reducing the burden of personal debt is a priority for many who admit taking on or adding to debt was a big mistake in 2019. The study explores respondents' financial priorities heading into 2020, the top financial resolutions for the new year, and steps people can take to make sure these resolutions come to fruition. John Boroff and Maura Cassidy can discuss the survey results and provide tips and advice about how to ditch debt and save more in the new year. from George Washington University.
Website: www.Fidelity.com/resolutions
Contact: Konnor Yurchak, [email protected]

Competing with Online Retail
Vic Drabicky
Founder & CEO
January Digital
"How can traditional retail compete with online? It's not about competing – it's about complementing. Retailers that have a mindset of "store vs. computer" are already dead. Those that use digital to support in-store and use in-store experience to drive digital demand will be the biggest winners."
Vic Drabicky, retail, beauty and marketing expert, is the founder and CEO of January Digital, an award-winning, full- funnel digital marketing agency and in-house consultancy for leading brands including David's Bridal, Diane von Furstenberg, Fenty beauty, Peapod grocery delivery, and TUMI. January Digital differentiates itself from traditional executional agencies by also serving as in-house business consultants. As a result, January Digital provides fully-informed strategic leadership that drives overall business growth. Vic's experience running digital both in-house and on the agency side for leading retail brands - Tory Burch, Nike, J.Crew, Cole Haan - enable him to have an informed opinion on myriad topics pertaining to holiday retail including: * Black Friday & Cyber Monday - Why they don't matter anymore. * Customer Experience - Why in-store & online experiences must be integrated. * Facebook - Diversification is a Must. Why Facebook alone doesn't cut it anymore. * Customer Data - How to collect it, share it internally, and leverage it.
Website: www.januarydigital.com/
Contact: Lisa Kussell, [email protected]

Choosing a Family Lawyer
Susan Myres
Senior Partner
Myres & Associates PLLC
"A good family lawyer must have intellectual curiosity because cases frequently involve numerous facets of the legal profession. Cases will often intersect with real estate law, business and financial law, personal and corporate tax law, employee benefits, international issues such as immigration, personal injury law, child development, the technology of artificial reproduction, the diagnosis and treatment of addiction among many other issues. Family law has changed dramatically over the 30-plus years of my practice. There are new kinds of marriages — not just same-sex marriage, but blended families resulting from multiple marriages in which children may be growing up with step-siblings and half-siblings. Just to add to the challenge, we now also have new ways to bring babies into the world, from in-vitro fertilization to storing frozen embryos to the use of surrogates to gestate a baby. All of these issues impact directly on family law."
Susan Myres, president of the American Academy of Matrimonial Lawyers, is a Certified Family Law Specialist, certified by the Texas Board of Legal Specialization with over 35 years of experience practicing family law. Myres can address issues related to divorce, child custody, property division, prenup agreements, mediation, arbitration, collaborative divorce.
Website: www.thehoustondivorcefirm.com/ 
Contact: Marie Piazza, [email protected]

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OTHER NEWS & RESOURCES: 

Following are links to other news and resources we think you might find useful. If you have an item you think other reporters would be interested in and would like us to include in a future alert, please drop us a line at [email protected] 

• Blogger Conferences: Top Events to Attend in January & February 2020. Is one of your resolutions to learn more about SEO for your blog? What about networking with fellow bloggers? 2020 will have plenty of opportunities to join other writers and improve your blogging skills. In just the first couple months, there will be events for travel, health, DIY, and dad bloggers, to name a few: https://prn.to/2QrIpm7.
• Blog Profiles: book Blogs. Each week, we feature blogs we love to follow. This week is all about books: https://prn.to/37I1PJk.

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