A notice from New York State that rates have gone down:

In December, Governor Andrew M. Cuomo signed into law new lower personal income tax rates for New York State.

The legislation:

created the lowest tax rates for middle-class New Yorkers in 58 years

reduced the tax rate for at least 4.4 million middle-class taxpayers, resulting in an income tax reduction of $690 million

Income Level *                      Previous Tax Rate                            New Tax Rate

$40,001 to $150,000              6.85%                                             6.45%

$150,001 to $300,000            6.85%                                              6.65%

$300,001 to $2 million           7.85% - 8.97%                                  6.85%

Over $2 million                     8.97%                                              8.82%

* Married filing jointly

Another rollercoaster ride for the year in the markets.  Up, down, down, up and we basically ended where we started.  Seems to be the theme not only for 2011 but for more than a decade in the markets.  The problems in Europe continue to keep domestic markets moving sideways despite evidence the U.S. economy is showing some signs of improvement.  International markets underperformed in 2011 and the dollar was up.  The question is, will things get markedly better this year or will we continue to just plod along?

Here are some benchmark returns to help you guage how your portfolio performed versus the various markets.

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The grocery bill is the topic of conversation quite frequently with clients.  I was sent this video and I love what they have to say.  I myself do employ many of their strategies though I must admit I have no desire for an additional gigantic freezer!

Tips to cut your grocery bill in half

Steve and Annette Economides, along with their children, Abbey and Joe, join TODAY’s Lester Holt with some simple strategies to keep your bill manageable.

http://www.msnbc.msn.com/id/21134540/vp/39923860#39923860
Today I decided to take a look at my credit score and credit report.  I know the report is free at www.annualcreditreport.com and I knew I would have to pay for the score.  I have read that you are supposed to go to www.myfico.com to get the score so I went there first.  I paid $19.95 for my score from Equifax.  I could have also paid another $19.95 for my score from Transamerica but I figured one would be enough.  OK so my score is pretty darn good if I must say so myself.  Then I go to get the report.

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Socail Security has decided it will no longer mail out the annual statements to individuals detailing what to expect in retirement and disability benefits.  I know many of you just filed that report away, but if you know me you know I really liked that report and used the data in my financial plans.  I am glad the agency has decided to save some money, we will need it later on.  So what you need to do now to get the information is go to their website, www.ssa.gov, and use the online retirement benefits estimator.  You will have to enter your personal information to access your history of earnings.  You can also make some assumptions about future earnings and at what age you plan on starting benefits.  Check it out and let me know if you have any questions.

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Marie DeCaprio MBA, CFA, CFP®

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