Author: Saratoga TODAY

As the flowers bloom and the sun shines brighter, it’s time to refresh not just our wardrobes but also our eyewear collection. Spring is the perfect season to embrace new styles and trends, and what better way to do so than by exploring the latest frames and sales in eyewear? Whether you’re looking for a chic upgrade or a practical addition to your family’s eyewear arsenal, there’s something for everyone this season.

EMBRACING SPRING TRENDS

Spring brings with it a fresh wave of eyewear trends that effortlessly blend fashion and functionality. Here are some trends to watch out for:

Bold Colors: Say goodbye to muted tones and embrace vibrant hues that reflect the energy of spring. From electric blues to fiery reds and sunny yellows, bold colors are making a statement in eyewear this season.

Vintage-Inspired Frames: Retro never goes out of style, and this spring, vintage-inspired frames are making a comeback. Think oversized square frames, cat-eye shapes, and classic aviators with a modern twist. (Oppenheim)

Translucent Frames: Light and airy, translucent frames are perfect for adding a touch of sophistication to your spring look. Whether in subtle pastel shades or clear acetate, these frames offer a contemporary yet versatile appeal.

Sporty Sunglasses: With outdoor activities in full swing, sporty sunglasses are a must-have for the whole family. Look for frames with polarized lenses, wraparound styles for added coverage, and lightweight materials for comfort during active pursuits.

EXPLORING SPRING SALES

In addition to exciting new trends, spring brings fantastic opportunities to score great deals on eyewear. Many optical office and stores offer seasonal sales and promotions, making it the perfect time to update your eyewear collection without breaking the bank. Keep an eye out for:

End-of-Season Clearance Sales: Optical boutiques often discount last season’s styles to make room for new inventory. Take advantage of these clearance sales to snag stylish frames at discounted prices. Since most new frames are released in March, April and May are popular times for sales of eyewear!

Spring Break Specials: Planning a getaway for spring break? Many eyewear retailers offer special promotions and discounts during this time, making it an ideal opportunity to invest in a stylish pair of sunglasses for the whole family. (Maui Jim!)

Exclusive Offers: Keep an eye out for exclusive spring sales and flash deals. Sign up for newsletters from your local eye doctor or follow your favorite brands on social media to stay updated on the latest promotions.

Bundle Deals: Most optical offices offer bundle deals for multiple purchases, allowing you to purchase multiple pairs of glasses at a discounted price. This is a great option when you are looking to update more than one pair of glasses like computer or sunglasses.

Conclusion:

As we welcome the warmth and brightness of spring, let’s embrace the opportunity to refresh our eyewear collection with the latest trends and sales. Whether you’re drawn to bold colors, vintage-inspired frames, or sporty sunglasses, there’s a style to suit every taste and need. Keep an eye out for spring sales and promotions, and don’t hesitate to treat yourself and your family to a stylish upgrade in eyewear. After all, seeing the world through trendy lenses is the perfect way to welcome the season in style.

Susan Halstead is a Nationally and NYS Licensed Optician and is the Owner of Family Vision Care Center at 205 Lake Avenue in Saratoga Springs. FVCC has been serving Saratoga County since 1920 with Susan as the third owner. Susan can be reached for comments or questions via text or call (518)584-6111 or email Susan@familyvisioncarecenter.com

Most of the articles relating to tax tips relate to reporting your income, available deductions and credits, and changes in income tax rates.  All of that advice is important, but I thought it would be useful to focus on the lesser discussed issues of responding to an audit and record keeping.  While you may think that audits are generally targeted at the ultra-wealthy, a recent Wall Street Journal article reported that, as of last summer, 63% of new audits were targeting income taxpayers with income of less than $200,000 a year.

To help better inform you on the issues of audits and record keeping, below is a set of Questions and Answers on those lesser discussed – but still important – tax matters.

IF I GET A NOTICE FROM THE IRS, DOES THAT MEAN I AM BEING AUDITED?

Not necessarily.  The IRS may contact you for various reasons, such as:

• Verification of withholding or tax payments – you may have to provide copies of Form W-2, Forms 1099 and other documentation that substantiates payments made on your behalf.

• Unreported income – banks, investment firms, and employers are required to report annually to the IRS the income that they have paid to individuals.  If the IRS receives a report of income that does not appear to be included on your tax return, they will notify you and assess tax liability for the unreported income.  If you agree with the change, you can pay the balance due.  If you don’t agree, you will have an opportunity to protest the liability.   

• Late payment or underpayment of tax – if you are required to make estimated tax payments or submit the amount you owe to the IRS after the due date, you may receive a notice with late payment interest and penalties. 

HOW FAR BACK IN TIME WILL A NOTICE RELATE TO?

• 3 years – in general, the IRS can go back up to three years from the original date of filing or due date of the tax return. 

• 6 years – If you did not report income that you should have reported and it is more than 25% of the gross income shown on your return, or it is attributable to foreign financial assets and is more than $5,000, the time to assess the tax is six years from the date you filed the return.

• No limit – There’s no period of limitations to assess tax when you file a fraudulent return or when you failed to file a return.

HOW WILL I KNOW IF I AM BEING AUDITED?

You will receive an IRS Letter 2205-A that specifically states that your tax return for a particular year has been selected for examination.  It will also include the contact information for the agent conducting the audit, the areas of your tax return they are auditing, and what the next steps are.  You will never receive a phone call notifying you of an audit. 

WHAT DO I DO IF I AM AUDITED?

• Stay calm.  Although the IRS has an ominous reputation, most agents are very reasonable and are willing to work with taxpayers.

• Contact a CPA, Enrolled Agent, or accountant to represent you during the audit.  Their experience allows them to advise you on reasonable documentation to provide.  These professionals also provide a buffer between you and the IRS.        

• Complete a Power of Attorney (Form 2848) to allow the IRS to speak to your representative on your behalf, which will likely expedite the audit process.

• Provide organized documentation to substantiate income or deductions presented on your tax return.  If you give an IRS agent an unorganized box full of receipts and bank statements, you may inadvertently open further areas to audit. 

• Provide only the documentation needed to support the items in question.  The IRS will sometimes request documentation for only specific areas of your tax return.  There is no need to provide information beyond what they requested. 

• Upon completion of the audit, decide if you agree or disagree with the findings.  If you agree, you can request an installment agreement to pay any additional tax and penalties that are being assessed.  If you disagree, you can request mediation or a hearing to appeal the decision.

• If your federal tax return changes because of the audit, you must amend your state income tax return to reflect any changes the IRS made on your federal return.  The IRS will communicate the changes to your state tax agency; however, you may be able to reduce interest and penalties by self-reporting the adjustment. 

HOW LONG SHOULD I KEEP MY TAX RECORDS?

• Prior filed tax returns – seven years from the date of filing.  Our 2023 tax returns are due on April 15, 2024.  You should retain your tax returns for the years 2016 (due April 15, 2017) through 2023, along with all documents supporting items of income and deductions on those tax returns.

• Closing statement for the purchase of your home – permanently, unless you sell it, then for seven years after the sale.

• Investment purchases – permanently, unless you sell them, then for seven years after the sale.

• Inherited property/assets – most inherited property is revalued upon the decedent’s date of passing.  You may request Form 8971 from the executor reporting the basis of assets that you inherited. It is recommended you retain the Form 8971 permanently, unless you sell the assets, then for seven years after the date of sale.

• Bank statements, utility bills, credit card statements etc. – seven years for business owners; for individuals, it is a personal preference if you do not have items of income and deductions that you need to substantiate on your tax returns.

Special thanks to my wife Sarah Dorsey, CPA, who provided valuable assistance in the writing of this article.  As is often the case, Sarah helps me sound much more intelligent than I actually am.  Thank you to Sarah and all those hard-working accountants out there who will soon be able to take a well-deserved rest after next Monday – April 15th!

Matthew J. Dorsey, Esq. is a Shareholder with O’Connell and Aronowitz, 1 Court Street, Saratoga Springs, NY. Over his twenty-seven years of practice, he has focused in the areas of elder law, estate planning, and estate administration. Mr. Dorsey can be reached at (518)584-5205, mdorsey@oalaw.com and www.oalaw.com. 

Our family runs on a schedule that was set in large part almost twenty years ago, when my oldest was born. My mental health was dependent on having a knowable, consistent daily schedule, and while my son’s needs dictated that daily schedule and changed it as needed, I made it my job to stick to whatever his current schedule was and worked all other things around it.

So, for example, if the baby’s regular napping schedule fell into a 10am and 2pm pattern, then I would not leave the house during those times so that he could have his nap. If I needed to leave the house during those times, I would try to make sure that the nap could happen at its normal time — maybe while driving to where we needed to go (car-bound errands were good for this, like getting gas and going through the bank drive-through, and then continuing to ride around as needed), or I would make sure we arrived at our destination (grandparents’ house, for example) in time for me to put the baby down at his normal nap time. Not everyone understood nor agreed with this approach, but they didn’t need to — it was what I felt was needed to keep my baby healthy, our household running smoothly, and myself sane.

As more babies came, this approach became a bit trickier, leading to lots of at-home time — we didn’t go out much for a long time. Naps and nursing were most important for the babies; naps and eating were most important for the toddlers and preschoolers; all of it was done in service of regular bedtimes and peaceful nights. I learned how to nudge a schedule one way or another if I needed to for the good of the family as a whole or an unexpected happening on a particular day, but in general, we all appreciated that we knew what was happening at each part of each day.

Those baby schedules are echoed in our current schedules, even though the last baby is now five years old. We’ve always gone to the 8:00 Mass on Sundays because that’s what worked best for my first baby’s nap schedule. We still have quiet time around 3:00 or so each day — this used to be the afternoon naptime and has stayed on as a much-needed bit of downtime. I still feel a little anxiety settling in when something interferes with that 3:00 quiet time (which actually happens quite a bit these days due to sports and other after-school activities). 

This adherence to the schedule of our baby years is crumbling here and there, though. One thing that could never happen during the baby years was sleeping in. I made sure the babies were up early enough each morning that they’d nap at their regular time and be ready for their regular bedtime that night, so even on Saturday mornings when we had nothing planned, I made sure to get the kids up by 8:00 to keep us all on schedule. For all the past many years, there was never any sleeping in … and now, all of a sudden, there is! Several recent Saturdays have seen all of us sleeping in a bit — what a nice change it’s been to have slow, sleepy mornings instead of the cranky, early mornings that we all hate so much! We won’t be able to do this all the time — Saturday mornings are for basketball games in the winter and baseball games in the spring — but in between sports seasons and when we have a later-in-the-day game, we are a family that sleeps in!

Another thing that’s different is that it’s no longer a problem to allow the little guys to snooze during the day. I don’t mean a full-on regular nap — that hasn’t been a thing for a while — but sometimes my youngest will fall asleep on the couch after a particular busy day outside, and just the other night, he leaned into my shoulder and fell asleep during a movie. In the old days, I’d do whatever I could to prevent the kids from falling asleep any time that wasn’t naptime or bedtime, because doing so could mess up the whole schedule, and especially because they wouldn’t be tired for bedtime, which could mean they’re up far too late for my own level of energy. It’s such a relief that I don’t need to worry about that any more! Now, if my littlest guy falls asleep during the day, we can still put him to bed at his normal time since he’s old enough to stay in bed and not get into trouble.

I’ve written a lot this year about the changes in our family and household since we no longer have any babies or very small children in the house — I hope you’re not sick of it yet! I hope that it’s a help to those of you in the trenches of parenthood, when it seems like everything and everyone is tired, tired, tired. I was there for many, many years, and now that I’m not, I’m both amazed that we’ve moved on as well as missing those days. I’m going to say those things that parents of young children sometimes get irritated by, but they’re so true: enjoy these days, because they go faster than you think; the days are long but the years are short; and these are some of the very sweetest days in the life of parents.

Kate and her husband have seven sons ages 19, 17, 15, 14, 12, 10, and 5. Email her at kmtowne23@gmail.com.

Deflation is a term that describes a decrease in the prices of goods and services in an economy. While this may sound like a good thing on the surface, in reality, deflation can have serious negative consequences for the economy as a whole.

One of the primary reasons why deflation is a bad thing is because it can lead to a decrease in consumer spending. When prices are falling, consumers may delay making purchases in the hope that prices will continue to drop further. This can lead to a decrease in demand for goods and services, which in turn can lead to lower production levels and layoffs in industries that rely on consumer spending. This decrease in consumer spending can create a vicious cycle, as lower demand leads to further price decreases, which in turn leads to even lower consumer spending. 

Deflation can also have a detrimental impact on businesses. When prices are falling, businesses may struggle to maintain their profit margins. This can lead to cost-cutting measures such as layoffs, wage cuts, and reductions in investment and expansion plans. This can have a negative impact on the overall health of the economy, as businesses are less likely to invest in research and development, which can stifle innovation and economic growth.

Deflation can also make it more difficult for individuals and businesses to repay their debts. When prices are falling, the value of assets such as homes and cars can decrease, making it more difficult for individuals to sell these assets to pay off their debts. This can lead to a rise in defaults and bankruptcies, which can have serious consequences for both individuals and the economy as a whole. 

Another negative consequence of deflation is that it can lead to a decrease in wages. When prices are falling, businesses may be hesitant to increase wages for fear of being unable to pass on these increased costs to consumers. This can lead to a decrease in disposable income for consumers, which can further depress consumer spending and lead to lower demand for goods and services.

Finally, deflation can lead to a decrease in investment and economic growth. When prices are falling, businesses may be reluctant to invest in new projects or expand their operations, as they may not be able to earn a sufficient return on their investment. This can lead to a decrease in productivity and economic growth, as businesses are less likely to invest in new technologies and processes that can drive economic expansion.

While deflation may sound like a good thing in theory, in reality, it can have serious negative consequences for the economy. From decreasing consumer spending and business profitability to making it more difficult to repay debts and stifling economic growth, deflation can have a wide range of negative impacts that can harm individuals, businesses, and the economy as a whole. A modest level of inflation from year to year is necessary to help ensure the economy functions as it should. It is important for policymakers to be aware of the potential dangers of deflation and take steps to prevent it from occurring.

Stephen Kyne CFP® is a Partner at Sterling Manor Financial, LLC in Saratoga Springs.   

Securities offered through Cadaret, Grant & Co., Inc. Member FINRA/SIPC. Advisory services offered through Sterling Manor Financial, LLC, or Cadaret Grant & Co., Inc., SEC registered investment advisors. Sterling Manor Financial and Cadaret, Grant are separate entities. 18 Division St, Ste 202, Saratoga Springs, NY 12866 518-583-4040

In the quest for optimal health and well-being, incorporating key supplements into your daily routine can serve as a valuable complement to a balanced diet and lifestyle. Here are the top six supplements that are widely recommended for most individuals to consider taking daily:

1. Multivitamin: A high-quality multivitamin can help fill in nutrient gaps in your diet, providing a broad spectrum of vitamins and minerals essential for overall health. Look for a multivitamin that covers essential nutrients such as vitamin A, C, D, E, B vitamins, zinc, magnesium, and more.

2. Omega-3 Fatty Acids: Omega-3 fatty acids, particularly EPA and DHA, are crucial for heart health, brain function, and inflammation regulation. Fish oil supplements or vegan alternatives like algae oil can help support cardiovascular health, cognitive function, and joint health. 

3. Vitamin D: Vitamin D plays a vital role in bone health, immune function, and mood regulation. Many people have insufficient levels of vitamin D, especially those living in regions with limited sunlight exposure. Consider taking a vitamin D supplement, especially during the winter months.

4. Probiotics: Probiotics are beneficial bacteria that support gut health and digestion. They can help maintain a healthy balance of gut flora, boost immunity, and aid in nutrient absorption. Look for a broad-spectrum probiotic supplement with multiple strains for optimal benefits.

5. Magnesium: Magnesium is involved in hundreds of biochemical reactions in the body, supporting muscle function, nerve transmission, and energy production. Many people do not get enough magnesium from their diet, so a magnesium supplement can be beneficial for relaxation, sleep, and overall well-being.

6. Turmeric: Turmeric contains a powerful anti-inflammatory and antioxidant compound that may help reduce inflammation, support joint health, and improve cognitive function. Consider a turmeric supplement with added black pepper for enhanced absorption.

While these six supplements are generally safe for most individuals, it’s important to consult with a healthcare provider before adding any new supplements to your regimen, especially if you have pre-existing medical conditions or are taking medications. Additionally, supplements should complement a healthy diet and lifestyle, not replace them.

By incorporating these top six supplements into your daily routine, you can support your body’s essential functions, promote overall wellness, and potentially improve your quality of life. Remember that individual needs may vary, so personalized guidance from a healthcare professional is key to optimizing your supplement regimen for your specific health goals and requirements.

Dr. Matt Smith has been a Chiropractor in Saratoga Springs for the past 37 years. He and his daughter Dr. Kevy Smith Minogue can be reached at www.mysaratogachiropractor. com or call 518-587-2064.