Earned Taxable Compensation

by Kristin P. Sinclair (March 7, 2017)
The IRS describes taxable compensation…

To read more on this article click here.

2017 Medicare Part D

by Kristin P. Sinclair (December 14, 2016)
2017 Medicare Part D is PDP or Drug coverage, and Medicare Part D has different stages. Some plans will have a deductible of $400.00 and then co-pays and co-insurance begins based upon your specific plans cost sharing formula. Some plans do not have a deductible which needs to be met, and those plans could have higher monthly premiums – or possibly some other format which helps to limit your exposure. Co-pays and co-insurance will apply until the true cost of the medications covered by the Part D plan have reached $3,700. Then you go into the Coverage Gap stage. Your cost sharing then is a 60% discount off the cost of name-brand medications in the formulary. With your cost sharing you pay the other 40% for your medications while you are in the coverage gap. This gap is often referred to as the donut hole. For generic drugs on the formulary you get a 49% discount. This means you pay the remaining 51% of the cost of your generic medication in the formulary while in the donut hole.

To read more of this article click here.

What is a Traditional IRA?

by Kristin P. Sinclair (December 16, 2016)
One of the first types of IRAs is the Traditional IRA, which is also known as the Original IRA. The Traditional IRA is a tax-deferred retirement savings account: you normally do not pay taxes on your contributions, and only pay taxes on your money later when you make withdrawals in retirement. By deferring taxes, your dividends, interest payments, and capital gains can compound each year without being hindered by taxes. Thus the Traditional IRA has the opportunity to grow much faster than a taxable account. Often retirees find themselves in a lower tax bracket than pre-retirement, and then the Traditional IRA money may be withdrawn and taxed at a lower rate.

To read more of this article click here.

Donn Sinclair

Donn Sinclair

Questions for Home Health Care Provider Interviews

by Donn J. Sinclair (December 17, 2016)
Medicare, and your Medigap or Medicare Supplement may pay some of the Home Health Care costs you incur. When selecting a home care agency for you or a loved one, there are important questions to ask when interviewing home health care agencies.

To read more of this article click here.

How Much Can Be Contributed for 2016/2017 ?

by Kristin P. Sinclair (December 22, 2016)

For 2016 and 2017 the IRS allows you to make IRA contributions up to $5500, and those 55 plus may contribute up to $6500 for this tax year. Please note that there may be additional limitations on how much you can contribute to an IRA based on your income and any retirement plan participation by you or your spouse.

To read more of this article click here.

How Can a Traditional IRA be Opened ?

by Kristin P. Sinclair (December 17, 2016)
Now that you are familiar with if you can open a Traditional IRA, and the time to open a Traditional IRA, the next step is finally opening a Traditional IRA. Just how do you go about doing that ? A Traditional IRA can be opened with a variety of organizations, such as your local bank, financial institution, or life insurance company. A Traditional IRA can also be opened through your stock broker and often your life insurance agent.

To read more of this article click here.

When Can a Traditional IRA be Opened ?

by Kristin P. Sinclair (December 15, 2016)
After learning that you are eligible to open a Traditional IRA, you may be wondering if it is the right time to do so. Luckily a Traditional IRA can be opened most any time. However, the time for making contributions to your Traditional IRA for any tax year is limited.

To read more of this article click here.

Who Can Open a Traditional IRA ?

by Kristin P. Sinclair (December 17, 2016)
Whether or not you are covered by another retirement plan, you can start your Traditional IRA. If either you or your spouse is covered by an employer retirement plan; however, then it is important to note that your deductible contributions may be limited.

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2016/2017 Roth IRA and Traditional IRA Considerations

by Kristin P. Sinclair (November 28, 2016)
Which is best for you ? Maybe both should be part of your retirement plans. With Traditional IRAs and other pre-tax retirement plans the contributions may be tax deductible in 2016 and 2017. Your earnings grow tax-deferred until you withdraw them. Normally it should be best to withdraw Traditional IRA funds in retirement when you may have less income, and therefore pay less in taxes.

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2017 IRA Changes

by Kristin P. Sinclair (November 28, 2016)
There are very few changes from 2016 to 2017. In 2016 and 2017 both the Traditional IRA and Roth IRA contribution limits remain the same at $5,500. For those 50 and over the $1,000 additional catch-up provision remains at $1,000 per person.

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Medicare Supplements 2017

by Kristin P. Sinclair (November 10, 2016)
Let’s look at what a Medicare Supplement is. Well it is a Supplement to the Original Medicare program. Let us look at this idea a little further. For this review we are going to look at figures familiar for 2016. Since Medicare deductibles and cost sharing are still being reviewed by Congress for 2017.

To read more of this article click here.

2017 Medicare Update

by Kristin P. Sinclair (December 1, 2016)
Congress has provided the figures for the 2017 cost sharing in the Original Medicare.
Since most folks have some other coverage options which help limit out of pocket exposure in the form of Medicare Supplement, Medicare Advantage, or Retiree health benefits, and in some instances Medicaid,. These figures are helpful to see….

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Affordable Care Act: Deadline Extended by IRS to Distribute 2016 Forms 1095-C & 1095-B

by Kristin P. Sinclair (November 23, 2016)
Friday November 18, 2016 the IRS issued Notice 2016-70. This notice delays the deadlines for employers and health insurers to distribute Forms 1095-C and 1095-B to their employees.

Kristin Sinclair

Kristin Sinclair

With this delay employee statements must be distributed no later than March 2, 2017 (previously January 31). The deadlines for IRS transmittals (Forms 1094-C and 1094-B) were not delayed. Forms 1094-C and 1094-B still must be submitted to the IRS by February 28, 2017 if in hard-copy; and by March 31, 2017 if in electronic format via AIR. As with this past year’s reporting, copies of all 1095-Cs and 1095-Bs distributed to employees are required with the IRS submissions.

To read more of this article click here.

Term Life Insurance

Donn Sinclair

Donn Sinclair

by Donn Sinclair (November 28, 2016)
@Sinclair Financial Solutions we feature some of the lowest term life insurance rates available. Whether you live in Charleston SC, Rock Hill SC, Charlotte NC, or Wilmington NC we are just a click away from shopping rights to help you save money. We compare rates with 25 or more national insurance companies to find you the best policy on the best terms.

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Regarding Social Security 2017

by Kristin P. Sinclair (November 11, 2016)
Folks who are receiving Social Security will be seeing a 0.3% increase for 2017. That will benefit 65 million folks who receive Monthly Social Security and Supplemental Security Income. The 0.3% is a Cost of Living Adjustment (COLA). You have probably heard the term COLA which is an Acronym or an Abbreviated way of saying Cost of Living Adjustment.

This will be of interest as well, 2017 maximum earnings for Social Security tax withholding purposes will be $127,200. 173 million folks who are workers will pay into the Social Security system. This is one of the taxes you pay with tax withholdings from your pay check. For those that are Self-Employed the payment is usually paid quarterly to the Department of Revenue with your quarterly tax payment. Of the 173 million folks who will pay into the Social Security system in 2017, roughly 12 million folks will see their maximum going from the old figure of $118,500 to the new figure of $127,200. What does this mean; well most people do not earn a salary of $118,500 but would certainly be very happy to see their income increase to $127,200. Most of us would be happy to pay more taxes if it meant we were also making more money right??? We can dream right……

So how do these figures come into play for you later in life? Once you become eligible to receive your Social Security benefits you will receive benefits based upon the income you made; and the contributions you paid into the Social Security system in your working years. For folks who were high wage earners for many years this is what it could look like when it comes time to slow down a bit. Your full retirement age is 66 years of age and retires at age 66; it is possible that you could receive a benefit of as much as $2,687 monthly. If your full retirement age is 66 but you have decided that at age 62 it is time to start receiving benefits, it is possible that someone could receive as much as, $2,102 per month. Let’s say your full retirement age is 66 years, but you have decided to keep working, keep contributing, and you are waiting to receive your Social Security benefits when you turn age 70, you could potentially see a maximum benefit of $3,576.

But, what can you do now to get an idea of what your benefits would actually be, is to use the Social Security online program to get an idea of what benefits should be at various ages if you wanted to wait to receive benefits. Remember to set up your user name and password. This way you can get back into the system when you want to look at things again as time marches along.
If you decided you wanted to start receiving your benefits prior to full retirement age, and still work, then you may need to pay back some of your benefits if you earn above the
Retirement earnings test exempt amount. It is worthwhile doing some research and deciding with a calm head and thoughtful consideration prior to starting your benefits. When you know you still want to be a wage earner and you are under the full retirement age, and do not want to limit your earnings potential.

The average retired worker in 2016 was receiving a benefit of $1,355 per month and when they see their 0.3% COLA increase, they will be receiving a figure $1,360. If they are on Medicare as well, then they will pay more for their Medicare premium and their COLA increase will help to hold them harmless. So basically the government is covering the cost of their Medicare premium increase by providing the COLA or Cost of Living Adjustment.

Updated in Rock Hill SC
by Kristin P. Sinclair (803)329-0609
November 11, 2016

Limited Time Offer – Fixed Rate… Retirement Income

4.10% Year 1             3.10% Years 2-5

Between your first job and retirement, life-changing events such as: marriage, children, a new home, and college educations, may require different financial strategies. Then once you retire, your priorities may again shift to include: visits with children and grandchildren, more leisure activities, and leaving a legacy for your loved ones. Give us a call at (803) 329-0609, and let’s sit down and discuss some ways that may smooth out your retirement income.

Is an IRA Rollover for You?

IRA-Rollovers can maintain the tax benefits for your retirement plan assets. We will help you do the paperwork to safely send your funds from your 401(k) or other employer-sponsored retirement plan to your IRA without a tax consequence-or 10% penalty. IRA- Rollovers normally do not offer loans like 401(k)s. However, IRA-rollovers are normally subject to less rules and restrictions than many retirement plans, and enable you consolidate several accounts and simplify your paperwork.  We can sit down and discuss balancing current income needs with needed future income increases.

Sinclair Financial Solutions

329-0609 or

(800) 659-9713

150 Oakland Avenue


Rock Hill, SC 29730

Rates terms and conditions are subject to change without notice. This is a fixed rate annuity policy series ACLAN-005. Should you choose to continue the annuity after the five-year guaranteed period, the minimum rate guarantee is 1.00% for contracts issued in 2016. Credited rates effective 11/01/2016 and are subject to change without notice. Interest is credited daily on the initial purchase Premium, less withdrawals that exceed the cumulative amount of interest credited. Quoted rates do not reflect optional liquidity riders. If you choose to add any of the available liquidity riders the interest rate will be reduced accordingly. Early withdrawals may be subject to Surrender Charges and Market Value Adjustments. The IRS may impose penalties for early withdrawals from qualified plans. Contracts issued by Atlantic Coast Life Insurance Company. Not FDIC insured. Rates vary by state.


SWANS: Objectives, Risks, Expenses, and Rewards

SWANS: Sleep Well At Night Stuff. You should carefully consider any savings and investment vehicle’s objectives, risks, expenses, and rewards. Not all savings and investment vehicles may be appropriate for everyone. Every individual is unique, has their own set of financial circumstances, and comfort level with saving and investment risk. Also, prior to any decisions or investing you should carefully read the available material to better understand the specifics of your selected savings or investment vehicle.

Kristin P. Sinclair
Updated in Rock Hill SC on November 1, 2016

Recent Rock Hill Real Estate Sales

2916 Neely Store Road
Rock Hill, SC 29730
3 Bedrooms, 3.5 Baths
3,818 sq.ft. Heated(HLA)
Closed Price: $325,000
Closed: Dec. 20, 2016
3759 Rogers Circle
Rock Hill, SC 29730
3 Bedrooms, 2 Baths
1,891 sq.ft. Heated(HLA)
Closed Price: $310,000
Closed: Dec. 19, 2016
643 Atherton Way
Manchester Village
Rock Hill, SC 29730
2 Bedrooms, 1.5 Baths
1,551 sq.ft. Heated(HLA)
Closed Price: $125,000
Closed: Dec. 16, 2016
Click here to view more listings

Tuesday March 3, 2017:
7 Day Outlook for Charlotte,NC & Rock Hill,SC:

Charlotte Tonight

Showers, mainly after 9pm. Low around 53. South southwest wind 9 to 11 mph. Chance of precipitation is 80%. New precipitation amounts between a tenth and quarter of an inch possible.

Charlotte Wednesday

Mostly cloudy through mid morning, then gradual clearing, with a high near 70. Northwest wind around 9 mph.

Charlotte Wednesday Night

Clear, with a low around 37. West northwest wind around 5 mph becoming calm in the evening.

Charlotte Thursday

Sunny, with a high near 74. Light west wind becoming southwest 5 to 10 mph in the afternoon.

Charlotte Thursday Night

Mostly clear, with a low around 45. Calm wind becoming southwest 5 to 7 mph after midnight.

Charlotte Friday

Mostly sunny, with a high near 74.

Charlotte Friday Night Mostly clear, with a low around 38.
Charlotte Saturday

Mostly sunny, with a high near 59.

Charlotte Saturday Night
Rain likely, mainly between 7pm and 11pm. Mostly cloudy, with a low around 39. Chance of precipitation is 70%.
Charlotte Sunday

A chance of rain before 1pm, then a chance of showers between 1pm and 3pm, then a chance of rain after 3pm. Mostly cloudy, with a high near 54. Chance of precipitation is 50%.

Charlotte Sunday Night
A 30 percent chance of rain. Mostly cloudy, with a low around 33.
Charlotte Monday Night
Partly sunny, with a high near 57.
Charlotte Monday Night
A 30 percent chance of rain. Mostly cloudy, with a low around 40.

Internet safety while traveling

Whether you’re traveling for business or going on vacation you will most likely want to stay connected while going from destination to destination. Traveling and using your laptop or mobile device you face two main risks by using a hotspot/Wi-Fi. One is hackers having the ability to track your online movements through the network you’re using/logged on to. The second is by tricking you into using a “fake” hotspot, cybercriminals do this by offering the Wi-fi for free or impersonating the name of a legitimate hotspot.
You also need to take safety a measure in case your device is stole or becomes lost during travels. Make sure to set your devices to the highest security level, in case your device is stole your personal information is protected.
To read more and find tips click here