Topic: Raymond James

Six Last-Minute Tax Tips

By Frazier Allen | April 6, 2013 |

Clarksville, TN – Here are six last-minute things to keep in mind as the due date for most individuals’ 2012 federal income tax returns approaches.

File on time, pay any taxes due – The due date for 2012 federal income tax returns is April 15th, 2013. If you’re not going to be able to file your federal income tax return by the due date, file for an extension using IRS Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. «Read the rest of this article»

Weekly Market Snapshot from Frazier Allen for the week of March 17th, 2013

By Frazier Allen | March 17, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

The economic data were mixed, but the stock market continued to focus on the good news and ignored the rest. Retail sales rose more than expected in February, but results varied across sectors. Industrial production picked up, following a weak January (results varied by industry).

The inflation reports showed some pressure from higher gasoline, as anticipated, and moderate core inflation. Treasury reported a smaller deficit than a year ago. Initial claims for unemployment benefits continued to trend lower. Consumer sentiment fell in the mid-March assessment, with a sharp decline in expectations (down to a 15-month low).

The Dow Jones Industrials Average continued to new record highs, up 10 sessions in a row. In contrast to the optimism expressed in equities, bond yields have remained relatively low. «Read the rest of this article»

Weekly Market Snapshot from Frazier Allen for the week of March 3rd, 2013

By Frazier Allen | March 3, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

Italian election results (a government in deadlock) dampened the party mood in equities. Bernanke monetary policy helped sooth fears that the Fed might end its asset purchase program earlier rather than later. Bernanke said that Fed officials “do not see the potential costs of the increased risk-taking in some financial markets as outweighing the benefits of promoting a stronger economic recovery and more-rapid job creation.”

Leaders in Washington failed to reach an agreement to avoid the sequester, but a deal could be reached as part of an agreement to authorize government spending after March 27th (which is when the current Continuing Resolution ends). «Read the rest of this article»

Heritage Bank parent company HopFed Bancorp, Inc. to acquire Tennessee-Based Sumner Bank & Trust

February 13, 2013 |

Hopkinsville, KY – HopFed Bancorp, Inc. (NASDAQ: HFBC) (“HopFed”), the parent company of Heritage Bank in Hopkinsville, Kentucky (“Heritage”), today announced that it has entered into a definitive agreement to acquire Sumner Bank & Trust (OTC Pink: SBKT), based in Gallatin, Tennessee (“Sumner”).

HopFed has agreed to pay approximately $14.3 million in cash, or $10.04 per share, to purchase all of the common stock and common stock equivalents of Sumner, including common stock that would be issued upon the conversion of Sumner’s convertible preferred stock upon a change of control (subject to adjustments). «Read the rest of this article»

Weekly Market Snapshot from Frazier Allen for the week of February 3rd, 2013

By Frazier Allen | February 3, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

With so many economic reports, some surprises were likely. Real GDP fell at a 0.1% annual rate in the advance estimate for 4Q12, smacked down by slower inventory growth and a 22.2% drop in defense spending (otherwise, GDP would have risen 2.5%). Consumer spending rose at a 2.2% pace in 4Q12, while business fixed investment advanced 8.4%. Residential construction added 0.4 percentage points to GDP. Exports fell.

Consumer Confidence tanked in January, while the Consumer Sentiment Index improved. The ISM Manufacturing Index was stronger than anticipated. Personal income jumped 2.6%, reflecting a 34.3% spike in dividend income and earlier bonus payments. Spending rose 0.2%. The PCE Price Index was flat overall (+1.3%) and ex-food and energy (+1.4% y/y) – trending well below the Fed’s 2% goal. «Read the rest of this article»

Weekly Market Snapshot from Frazier Allen for the week of January 30th, 2013

By Frazier Allen | January 30, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

The House voted to delay the need for a debt ceiling increase by three months, to May 19. Congress has not had a real budget since 2009, funding the government through a series of stopgap measures (Continuing Resolutions). This week, Congress set a goal to have a real budget by April 15th, or lawmakers won’t get paid. Actually, they’ll still get paid eventually.

Oh, and the House and Senate only have to come up with a budget that can be approved by one chamber. They don’t have to have a set of budget bills that can be approved by both chambers (that is, something that could be sent to the president and signed into law). Spending cuts are still slated to kick in on March 1st, with about half of that in defense. «Read the rest of this article»

The Weekly Market Snapshot from Frazier Allen for the week of January 20th, 2013

By Frazier Allen | January 20, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

The economic data were mixed, but generally consistent with moderate growth in the near term. Retail sales and industrial production were largely in line with expectations. Jobless claims sank and housing starts jumped, boosting the major stock market indices, although seasonal adjustment likely played a part. The Fed’s two major regional surveys disappointed, reflecting contractions in new orders and employment and some pickup in input price pressures.

Earnings reports were mixed, but investors seemed more concerned with the path ahead. «Read the rest of this article»

The Weekly Market Snapshot from Frazier Allen for the week of January 13th, 2013

By Frazier Allen | January 13, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

The economic calendar was thin. Jobless claims continued to trend at a moderately low level. The trade deficit widened unexpectedly in November. As a result, net exports are likely to subtract from 4Q12 GDP growth.

With little economic data, the stock market began to focus on earnings reports. President Obama nominated Jack Lew to succeed Timothy Geithner as treasury secretary. The move likely signals an emphasis on upcoming battles. Lew currently serves as Obama’s chief of staff. He also ran the Office of Management and Budget for both Clinton and Obama. «Read the rest of this article»

The Weekly Market Snapshot from Frazier Allen for the week of January 6th, 2013

By Frazier Allen | January 6, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

On New Year’s Day (technically, the December 31 legislative workday), Congress approved the Senate’s plan to lessen the impact of the fiscal cliff. The American Tax Relief Act (ATRA) raises taxes for upper income households. The passage of the plan removes a major uncertainty for the financial markets. That is, we now know what tax rates are going to be.

However, there were a number of problems with the plan. Congress failed to prevent (or offset) a two percentage point increase in payroll taxes, which should dampen consumer spending growth in the near term. The bill postponed large spending cuts by two months, did little to reduce the long-term budget shortfall, and did not address the federal debt ceiling. «Read the rest of this article»

The Weekly Market Snapshot from Frazier Allen for the week of December 23rd, 2012

By Frazier Allen | December 23, 2012 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

Stock market participants were encouraged by progress (over the weekend) in fiscal cliff negotiations. However, the two sides remained far apart and discussions stalled on Tuesday. House Speaker Boehner proposed a plan B, which would raise taxes on those making more than $1 million per year. However, the plan faced opposition from Senate Democrats, a threat of a presidential veto, and rejection from some of the more conservative members of the House.

Lacking enough votes within his own party, Boehner pulled the plan on Thursday evening. The result was an even greater bargaining advantage for the Democrats and a near certainty of going over the cliff. There’s still a strong belief that a deal will be reached in January or early February, but negotiations may have to start over with the new Congress. Post-cliff, however, Republicans would be able to vote for tax cuts rather than tax increases. «Read the rest of this article»

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