HAPPY NEW YEAR!
We here at Axiom are looking forward to another year working with all of you. It is such a privilege and pleasure to have you as clients and friends. Our partnerships are very special, particularly in a world where more and more transactions and relationships are becoming automated and remote. It’s important you know how much we appreciate and value our personal connections and hope you always feel comfortable reaching out to us anytime you have concerns regarding your accounts.
MAY THE NEW YEAR BRING YOU GOOD HEALTH, GOOD FORTUNE AND GOOD COMPANY.
THE AXIOM TEAM
AXIOM UPDATES
Axiom Holiday Lunch
The Axiom team toasted the holiday season with a festive lunch at Jeff Ruby’s Steakhouse in Louisville. It was also a time to celebrate financial consultant Sarah Black’s birthday. Here’s hoping her wish comes true!
Celebrating an Academic Publication
We’re proud to announce that Axiom CEO Vaughan Scott had a peer-reviewed academic article published in Venture Capital, An International Journal of Entrepreneurial Finance. Vaughan collaborated with Dr. Francisco Bastida, from the University of Murcia in Spain and Dr. Mohammad Nurunnabi of Prince Sultan University in Saudi Arabia. Together they wrote the article titled Micro, Small & Medium Enterprises’ Need for Digitization to Counteract COVID-19: From “nice-to-have” to “must-have”? The authors surveyed businesses in the US, the UK and India to determine the importance of digitization in successfully navigating the COVID pandemic.
Pearls of Wisdom
The December Pearls Of Wisdom event, sponsored by One Southern Indiana Chamber & Economic Development, featured Tish Frederick, Founder and Executive Director of BAYA, which stands for “Beautiful As You Are.” The nonprofit was created to give girls a safe place to be themselves and build their self esteem. The
organization works with 840 young girls monthly, throughout Louisville and Southern Indiana. Some of the “pearls” Tish shared with the group were: “Don’t let your past define you,” “You are enough,” and “You are more than the reflection you see in the mirror.” Axiom CFO Leah Driver and financial advisor Michelle Konkle attended the event.
Good News!
It was a roller coaster finish to 2023 for the Scott family and particularly son Evan. He successfully wrapped up chemotherapy treatments right before Thanksgiving and was actually able to enjoy the holiday meal. Unfortunately by Saturday, he was hospitalized for several days. Thankfully, Evan was released in time to celebrate his 21st birthday in Bloomington, where he’ll return to school this month. Even though he dealt with a mild case of COVID, as a result of the milestone birthday bash, you can’t keep this guy down. We’re all very thankful for the good news and the extremely positive prognosis. The expectation is that Evan has won this battle.
REMINDERS
2023 Tax Form Release Dates
Forms 1099-R and 1099-Q
Delivered or postmarked by: January 31, 2024
Description: These forms provide information on distributions from your Individual Retirement Account (IRA), Coverdell Education Savings account or 529 Plans.
Market Value and RMD Information – Form 5498
Delivered or postmarked by: January 31, 2024
Included in your enclosed December 2023 account statement. This shows the value of the account as of the last business day of the year and information regarding your Required Minimum Distribution (RMD), if applicable.
Consolidated Statement & Form 1099-DIV, 1099-MISC, 1099-B, 1099-OID, 1099-INT
Delivered or postmarked by: February 15, 2024*
Information is provided on the following: Dividends and other distributions, original issue discount income (other than CMO/REMIC instruments), royalties, substitute payments, miscellaneous income, proceeds of sales, redemptions and tenders, and reportable interest income.
*Please note that while the due date for investment/brokerage tax forms is February 15, in some instances, you may receive an amended version for your account when additional income or distribution information was provided after the original mailing deadline.
529 Plan Changes
Did you know that as part of the Secure Act 2.0, you now have new options for existing 529 Plans that are no longer being used for educational purposes?
The plans must meet the following criteria in order to qualify:
– 529 Plan beneficiaries can roll over up to $35,000 to a Roth IRA over their lifetime.
– 529 to Roth IRA rollovers can be made beginning in 2024.
– Rollovers are subject to Roth IRA annual contribution limits.
– The 529 account must be more than 15 years old.
– The Roth IRA account must be in the name of the 529 plan beneficiary.
JANUARY HAPPENINGS
Frozen
Frozen features the songs you know and love from the original Oscar-winning film, plus an expanded score with new numbers by the film’s songwriters. It’s an unforgettable theatrical experience filled with sensational special effects, stunning sets and costumes. Frozen is everything you want in a musical: It’s moving, spectacular and pure Broadway joy. January 24-February 4 at the Kentucky Performing Arts Center. Go here for tickets.
Sense and Sensibility
Kentucky Shakespeare presents Jane Austen’s beloved novel, Sense and Sensibility. Follow the fortunes and misfortunes of the Dashwood sisters—sensible Elinor and hypersensitive Marianne—after their father’s sudden death leaves them financially destitute and socially vulnerable. Set in gossipy 18th-century England, the play is full of humor and bold theatricality. January 6-14. The Kentucky Center, Bomhard Theater. Click for tickets.
Candlelight: The Best of Hans Zimmer
Candlelight Concerts bring the magic of a live, multi-sensory musical experience to awe-inspiring locations like never seen before in Louisville. Get your tickets now to discover the music of Hans Zimmer under the gentle glow of candlelight. January 19 at Actors Theater. Find more information here.