Your Advisor's Thoughts

There Ain't No Such Thing As A Free Lunch!!

This time of year we are all bombarded by tax preparation advertisements. From catchy Superbowl commercials to pesky internet ads, everyone seems anxious to prepare your tax return - and most of them seem to be offering to do so for FREE! Some companies promise a limited fee; others send you "free" tax software through the mail. Such offers are tempting! Tax season is a dreaded time for many, and the thought of letting someone else tackle your returns at no cost is certainly appealing.

Unfortunately, these offers are rarely what they seem.

In the last month, a number of clients have walked through our doors having explored one of these enticing offers and found the results less than satisfying! For example:

• At a local preparer offering "FREE" 1040EZ tax returns, the actual cost upon completion was over $300. Had this particular return been dropped off at YBI, it would have cost $99.
• Another preparer offering "FREE" returns charged $79; the YBI fee would have been $75.
• After promising "Returns for $74", still another company charged $115. This return would have cost $75 at YBI.

In addition to cost, consider what kind of support you will receive after tax season should the IRS contact you with questions about your return. At YBI, our tax pros are available year-round to address IRS questions and even provide assistance if necessary. Ongoing education ensures that they are current with the most recent tax law changes.

So when you are tempted by yet another "FREE" offer, remember:

"There Ain't No Such Thing As a Free Lunch"

Come see us at YBI for Expert Tax Advice, Fast Accurate Service, and our Convenient Drop-Off during office hours: Monday - Friday, 8:00 am - 5:00 pm, and Saturday, 9:00 am - 12:00 pm.

To contact "Your Best Interest" Financial Services, e-mail us at ybifs.@ybifs.com or call us at 610-485-1010.

Securities offered through Trustmont Financial Group (TFG) Inc. Member FINRA/SIPC Advisory services offered through Trustmont Advisory Group (TAG) Inc. 200 Brush Run Road, Greensburg, PA 15601 724-468-5665 Neither "Your Best Interest" Financial Services, Inc. nor 401kPRO are affiliated with TFG or TAG.

Important Information for PA Tax Filers

There is a new line on the 2011 PA tax return that must be completed by every PA resident. Line 25 reports Use Tax, which is the counterpart of Sales Tax and applies to taxable purchases made over the internet, through toll-free numbers, from mail order catalogs and from out-of-state locations where sales tax was not charged and collected by the seller. The use tax rate is the same as the PA sales tax rate; 6%. It is PA's attempt at mandatory compliance of remitting PA sales tax for untaxed out of state purchases that would be subject to sales tax if purchased in PA. Every PA resident is personally responsible for remitting the use tax directly to the PA Department of Revenue.

This isn't a new law;
it's enforcement of current law.

Examples of taxable items include the following: antiques, paintings, appliances, books, stationery, computers, exercise equipment, formal clothing, furniture, furnishings, jewelry, luggage, handbags, musical instruments, office equipment, souvenirs, televisions, radios, stereo equipment, video equipment and camera equipment. Examples of taxable services include lawn care, pest control, self-storage, building cleaning and maintenance services such as housekeeping services.

Purchases are reported in 2 categories; individual purchases less than $1000 and individual purchases over $1000. For individual purchases less than $1000 you have the option of providing detailed purchase information or using the optional use tax table provided by PA Department of Revenue to calculate your use tax liability based on taxable income. For individual purchases over $1000 you must provide detailed purchase information and itemize the purchases. Your use tax liability will be calculated on the taxable purchase amount.

If you paid some sales tax on items - for example sales tax paid at a lower rate paid to another state - you may offset your use tax liability by the sales tax already paid.

For detailed information on use tax reporting responsibilities and options, visit: www.revenue.state.pa.us/usetax.

To contact "Your Best Interest" Financial Services, please reply to this e-mail, or call us at 610-485-1010.

Securities offered through Trustmont Financial Group (TFG) Inc. Member FINRA/SIPC Advisory services offered through Trustmont Advisory Group (TAG) Inc. 200 Brush Run Road, Greensburg, PA 15601 724-468-5665 Neither "Your Best Interest" Financial Services, Inc. nor 401kPRO are affiliated with TFG or TAG.

Christmas Lists

If there ever was a time for making lists, Christmas is it. Gift lists, holiday card lists, shopping lists, and recipe lists are the unsung heroes of the Christmas season!

At the “Your Best Interest” office this last week, we received some new lists… ones that we look forward to completing! Recently, the YBI team paid a visit to CityTeam Ministries in Chester, PA. We were there to learn more about this amazing organization that is bridging the gap for so many who are struggling in our region. We talked with the staff about the needs at CityTeam and how we can get involved with supporting their activities. What an amazing day that was – we were certainly blessed and encouraged by what we saw, and we look forward to blessing them with our involvement in the coming year. An immediate opportunity was presented to us by their Christmas Toy Drive. This drive fulfills the Christmas wishes of local children by providing participants with a short list of toys to purchase for a child in our area. We received our lists and look forward to sending toys to CityTeam for delivery to these precious kids!

Giving gifts is naturally one of the best parts of Christmas… and in truth, it was originally God’s idea! The first gift ever given was Jesus: the Savior of mankind, the Messiah, Emmanuel (meaning “God with us”). No shopping list was needed for this first Christmas. There was only one gift, and every single one of us were the recipients. God gave us the Gift we most needed in the form of a flawless baby born into a filthy stable. The Good Shepherd was greeted by lowly shepherds. A Miracle Worker whose very birth was itself a miracle. He was, and is, a most perfect Gift in every way.

You are on God’s list of beloved gift recipients. You are on our list too: our list of extraordinary and exceptional clients, friends and colleagues. We are blessed to have been able to work with and for you in this last year, and we look forward to continuing our relationship in the coming year.

We wish you a most Joyful Christmas and promising New Year!

Phil Giambri, Greg Teal, and the rest of the YBI Team

Securities offered through Trustmont Financial Group (TFG) Inc. Member FINRA/SIPC Advisory services offered through Trustmont Advisory Group (TAG) Inc. 200 Brush Run Road, Greensburg, PA 15601 724-468-5665 Neither “Your Best Interest” Financial Services, Inc. nor 401kPRO are affiliated with TFG or TAG.

2011: The Year in Review

When the history books are written about 2011, what will be the highlights that will stand out in your mind? It has been a year in which we have experienced hurricanes, blizzards, a tsunami, tornadoes, sandstorms and earthquakes. We have watched our politicians struggle in so many areas as they attempt to revitalize America. Many Americans are out of work and many more have lost their homes. As I look at 2011 in retrospect, I will remember it as a year of challenges and blessings, natural disasters and phenomenal accomplishments.

On the financial front we have watched the stock market go up and down sharply on almost a daily basis. It seems as though the slightest bit of news, either negative or positive, has tremendous repercussions for the market. Most of you reading this have been touched personally in some way by the effects of our wavering economy.

Well, is it all doom and gloom? Absolutely not! Is the cup half full or half empty? From my view point, it is not only half full, it is full and running over. Despite all the challenges facing our nation, we still live in the most amazing country in the world. While my family has not been immune to the challenges of 2011, I still believe the opportunities and blessings far outweigh the issues we face.

You may question my optimism, but it is based on the following: When you chart both the S&P and the DOW over the past two years, both of these indices have actually seen slight increases. When compared to the current economic situation in many other countries across the globe, this is an unquestionable positive. In addition to those documentable figures, I have also noticed a growing regional trend of increasing numbers of “Help Wanted” signs. I am not referring here to seasonal jobs, but rather jobs that will generate income and benefits for families.

Personally, the most significant lesson that I learned in 2011 as I spent time reading through the book of Proverbs is that we need to show more mercy to one another. I was struck by how much more pleasant our lives would be if we routinely treated one another with attitudes of compassion and forgiveness. I look forward to 2012 with great anticipation as it is my desire to grow in knowledge, wisdom and understanding.

I know you will agree that as you get older, each year seems to go by much, much quicker than the year before. 2011 has not been an exception. This year has flown… as we watch 2011 go out, we have great expectations for next year. It is my hope that 2012 will be one of the most wonderfully memorable years of your life.

With warmest regards,

Phil Giambri

This is a guest blog by Philip M. Giambri, the founder and owner of “Your Best Interest” Financial Services, Inc.

Securities offered through Trustmont Financial Group (TFG) Inc. Member FINRA/SIPC Advisory services offered through Trustmont Advisory Group (TAG) Inc. 200 Brush Run Road, Greensburg, PA 15601 724-468-5665 Neither “Your Best Interest” Financial Services, Inc. nor 401kPRO are affiliated with TFG or TAG.

Always Something to Be Thankful For!

Thanksgiving…

For so many of us this day marks the beginning of the holiday season. The excitement of turkey roasting, family hosting, and Christmas shopping can quickly obscure the opportunity for grateful reflection. For others the concept of being “thankful for all that we have” is a very difficult one. Maybe money is tight this year, or health and family concerns weigh on your mind. This is a painful reality for so many in our community, and all the tasty recipes and beautiful table settings cannot compensate for the hurt or lack that so many feel.

So in light of these realities, how can we truly celebrate Thanksgiving Day with an attitude of gratitude?

Make a conscious effort to be more aware of what you have than what you don’t!

Simple words – but they really are such a challenge for all of us. We can all quickly reel off a list of our wants, but when did you last consider what you might be taking for granted? There are so many things we each enjoy every day… a beautiful Fall day with magnificently colored trees, the companionship of a pet, a place to call home, a hug from a loved one. We are so truly blessed, but we lose the blessing when we focus on our lack rather than the abundance of even simple things.

Express your gratitude to just one person this week.

Receiving just a few words of gratitude can go a long way toward brightening someone’s day. We all love to be told how much we are appreciated… look for someone that you can recognize with just a few encouraging words, and likely you will benefit as well!

We are thankful for each of you, our clients and colleagues, and wish you all a blessed Thanksgiving!

Phil, Greg, Charlotte, Jackie, Carol and Jen

Securities offered through Trustmont Financial Group (TFG) Inc. Member FINRA/SIPC Advisory services offered through Trustmont Advisory Group (TAG) Inc. 200 Brush Run Road, Greensburg, PA 15601 724-468-5665 Neither “Your Best Interest” Financial Services, Inc. nor 401kPRO are affiliated with TFG or TAG.

Does Your 401(k) Contain Treats or Tricks?

The Treats - The GOOD Things:

401(k) plans are among the most successful investment instruments ever created to help American workers accumulate wealth. A majority of employers have generous matching programs available. For many of our retired clients, their social security checks are augmented by withdrawing retirement funds to provide for a desired standard of living.

The Tricks - The BAD Things:

The very legislation that provides for 401(k) plans is arguably the most complicated section of IRC code that exists. The simple fact that the law is complicated forces the plans to be complex and this often results in very high internal costs. Many participants believe that their plans are free, but this could not be further from the truth! The worst offending plan I have analyzed had 5.8% internal fees. A majority of plans commonly have over 3%. To put this in real terms, assuming a $150,000 account balance, this amounts to $8,700 in fees. When compounded over 10 years at 8% this is equates to $126,000 in potential retirement savings lost to fees.

In addition, 401(k) plans are legally permitted to be stretched by your beneficiaries. However many employers prohibit stretching simply because of the costs that can be incurred, and consequently your beneficiaries will not enjoy the full advantages of your savings.

The good news is that in many cases, the "Treats" of a plan do outweigh the "Tricks"… but it can be difficult to ascertain unless you know the important questions to ask your company Benefits Manager. Often even these employee fiduciary managers are unaware of the hidden costs that lurk within retirement plans, and this can make planning even more frightening! At “Your Best Interest” Financial Services, Inc., our 401(k)PRO service provides a complimentary analysis which will examine any plan for your employer to determine how tricky the "Tricks" are, and identify methods to maximize the benefits to employees.

If you are currently in a situation where you do not have a 401(k) or 403(b) plan, it is often advantageous to move your existing savings to an IRA to reduce costs, and allow stretching. A note of caution though: there are 3 caveats to moving your retirement plan to an IRA. Stay tuned for future information on this.

The bottom line, no matter your current situation, is that you need to work with someone who has vast experience and specialized knowledge in this area. If you have questions about your 401(k) plan and its costs and benefits, please contact us for an appointment to review your individual situation.

Stay tuned… and happy October!

Greg

Securities offered through Trustmont Financial Group (TFG) Inc. Member FINRA/SIPC Advisory services offered through Trustmont Advisory Group (TAG) Inc., 200 Brush Run Road, Greensburg, PA 15601 724-468-5665 Neither “Your Best Interest” Financial Services, Inc. nor 401kPRO are affiliated with TFG or TAG

September 11

Ten years have passed since the events of 9/11/01, and while in some ways it feels like a lifetime ago, the memory remains painfully fresh in our minds.

An attack on U.S. soil. The loss of nearly 3,000 lives. In the wake of these horrific events, we might have recoiled. We were all wounded that day, but the people of this nation rallied together, and in the decade that has followed, we've proven our strength, our courage and our resilience.

Let us never forget the events of 9/11.

This coming Sunday, Patriot Day, let us remember the thousands of precious lives that were lost that fateful day, as well as the lives of those we've lost since then - the brave men and women of the armed forces who fight for us each and every day.

9/11 is a wound that may never fully heal - like the wound we sustained at Pearl Harbor, but those wounds, though deep, make us stronger.

Our thoughts and prayers this week are with all those who lost family members and loved ones on that day, and in the subsequent years of military action.

GOD BLESS AMERICA!

Phil Giambri and Greg Teal

You can contact Phil and Greg at the office by calling 610-485-1010

Philip M. Giambri is the founder, and owner of “Your Best Interest” Financial Services Inc. Phil is a registered representative of Trustmont Financial Group Inc. Member FINRA, SIPC. Greg is an investment advisor representative of Trustmont Advisory Group, Inc. 200 Brush Run Road, Greensburg, PA 15601, 724-468-5665

A 5.9 Earthquake and a Category 2 Hurricane...

All of us on the East Coast are being reminded this week that some natural disasters can be anticipated, and others cannot. When the unexpected occurs, individual reactions may vary widely, as we discovered last Tuesday in the “Your Best Interest” office. During the earthquake, each of us reacted differently: one of us moved under a doorway, some jumped up to run outside, and one (the native Californian in the bunch) crawled under her desk. Phil calmly continued on with his appointment, appearing slightly amused by the collective alarm.

As if the earthquake weren’t enough for one week, the anticipated arrival of Hurricane Irene quickly moved to the top of the headlines! Local authorities and news outlets stressed the importance of making appropriate preparations for the expected torrential rain and high winds.

Our financial markets have been rocked recently as well. As with natural disasters, we each respond to these “financial tremors” differently. Some are tempted to run away, some stand their ground, and still others look for opportunities.

At “Your Best Interest” Financial Services, we understand that everyone has a different comfort zone when navigating the financial marketplace. Personal risk tolerance does not fluctuate with the market, but sometimes our feeling of uneasiness does. We are here to help you proactively create your individualized investment strategy and then encourage you to stay the course with professional guidance, perspective and objective assessment of the market.

Stay tuned…

Greg

You can contact Greg at his
office by calling 610-485-1010.

Greg Teal is an investment advisor representative of Trustmont Advisory Group, Inc. 200 Brush Run Road,
Greensburg, PA 15601. Trustmont can be contacted by calling 724-468-5665

Should You Focus on 11-Month Losses or 12-Month Gains?

In case you have been living under a rock, let me inform you that throughout the past few weeks the stock market has been rather unpredictable. To put it in technical terms, it has been absolutely crazy! Month to date the S&P 500 index is down 7.6%. We have seen huge increases and declines over days, and even hours at times!

A sharp increase in volatility will make even ultra-long term investors squeamish. This is exactly the time, however, to fight our natural urges to flee despite the talking heads on TV who cry that the sky is falling. The United States of America is no different today than it was three weeks ago. Our national potential is truly amazing despite such valid concerns as debt, unemployment issues, and even occasional political silliness.

In light of the current climate, let me give you a few of my thoughts in a nutshell...

• The current stock market conditions are a "normal occurrence"
• We are not facing imminent default
• We will not be overtaken by another country any time soon
• I see no signs of an impending recession
• Conventional wisdom says to avoid commodities at historically high values: currently this means gold and silver

My crystal ball is currently in for repairs, therefore I am not willing to venture a guess at the duration of the current spike in market volatility or valuation decline. I am confident that patience will pay off in investing appropriately for your individual time horizon and risk preference. As a part of our service to our clients, we manage risk levels and invest appropriately. If you feel there is too much risk in your portfolio, please call us so that we can discuss your individual situation.

Stay tuned for more!

Greg

You can contact Greg at his office by calling 610-485-1010.

Greg is an investment advisor representative of Trustmont Advisory Group, Inc. 200 Brush Run Road, Greensburg, PA 15601. Trustmont can be contacted by calling 724-468-5665