LNG Financial Services, LLC

LNG Financial

Dear Valued Client,

I think you'll find at least one article in this issue of interest. There are a variety of tax and personal finance aritcles here this month that may be just what you need to see right now.

The first two articles, which I have written, provide information on two financial planning tools that you might find useful, for obviously different reasons. The first, on a form of financial protection that I feel everyone should know about but few people do. I wrote this from the personal experience of not having it, when it could have made a tremendous difference to my family.

The second article is about Reverse mortgages. You see them advertised an awful lot but they're a little complicated and not many people are aware of how they work and how in the right situation this type of a mortgage could be just the right move. The biggest criticism of this type of mortgage over the years has been cost. We are in a position to substantially mitigate this issue and help in this regard. If you have any interest at all,  call me at this office.

Finally, there are some changes coming.

Since the inception of this newsletter it has been published by LNG Financial Services, LLC, sister company of LNG And Associates, Inc. You may not have even noticed this detail. From now on, it will be published by LNG And Associates, Inc. This is not a change that will affect you in any way.

Also, the introductory message has always been from me, personally. Starting next month, this introduction to the monthly newsletter will be from Steve Fineman, of LNG And Associates, Inc. I will continue to compile the newsletter and be a regular contributor to it, as I have been doing. Typically, I write the first one or two articles each month, specifically for this publication.

I enjoy working with people of all ages on personal financial matters. Writing for this newsletter is a pleasure for me. I am always available to you by phone or email and through through this office.

As always, wishing you all the best,



Howie Hirshfield
Certified Retirement Counselor(R)
LNG Financial Services

Critical Illness Coverage -- Created by a Physician

"It's all about medical advances that have increased survival rates," says Dr. Barnard who saw new medical procedures were saving the lives of countless patients who suffered critical illnesses, but saw those same lives devastated by the financial impact of their illness. Heart attack, stroke and cancer patients now survive in greater and greater numbers -- but at a cost.
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What Is a Reverse Mortgage?

No doubt, once or twice you've seen an aging actor pitching them on TV. Think Fred Thompson or Robert Wagner. You may have heard the term but it's very likely you don't know what it means or how this financial product works. If you're 62 and retired or retiring soon, a reverse mortgage, in the right circumstances, can be a valuable tool worth considering.
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Don’t Panic if You Receive an IRS Notice

If it is not your refund check in the mailbox, that letter from the IRS will probably increase your heart rate a little. Don’t panic; many of these letters can be dealt with simply and painlessly.
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Did You Overlook Something on a Prior Tax Return?

It is not uncommon to discover that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more tax due or a refund, it should not be dismissed.
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Find Lost Money

Unclaimed property refers to accounts in financial institutions and companies that have had no activity generated or contact with the owner for a period of one year or longer (depending upon state law). Common forms of unclaimed property include savings or checking accounts, stocks, uncashed dividends or payroll checks, refunds, traveler’s checks, trust distributions, unredeemed money orders or gift certificates (in some states), insurance payments or refunds and life insurance policies, annuities, certificates of deposit, customer overpayments, utility security deposits, mineral royalty payments, and contents of safe deposit boxes.
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Get a Big Refund This Year?

The IRS reported that approximately 118 million Americans received tax refunds in 2013 averaging around $2,640. The average refund this year is expected to be even higher. If you are among those who received a refund, you are probably celebrating. While some consider a large refund to be a cause for celebration, it’s actually a financial mistake that becomes particularly costly for those who get refunds year after year.
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Are You In Danger of An Audit?

In recently-released data, the IRS divulged the audit statistics for returns the Service audited in fiscal year 2013. It provides information about the number of returns being audited and where the IRS is focusing their enforcement activities.
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The LNG Financial Services newsletter is available via e-mail on a free subscription basis. You can subscribe or unsubscribe at any time. For more information about - LNG Financial Services, go to http://www.lngfinancial.com. This message was sent using ClientWhys Persyst. View our permission marketing policy.

Disclaimer: The tax advice included in this newsletter is an overview of some complex tax rules and is not intended as a thorough in-depth analysis of the tax issues discussed. Do not act on the information included in this newsletter without first determining how these issues apply to your particular set of circumstances and if there are any special tax laws or regulations that might apply to your situation.
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