Michael Rose CPA PC

Most couples spend years preparing financially for retirement.

Very few have talked about what retirement will actually look like.

Not the number. The life.

👉 Where will you live?

👉 What will your days look like?

👉 What happens if one of you is ready to stop working and the other is not?

A 2025 Fidelity survey found that 48 percent disagree on the age they prepare to retire. And research from Ameriprise found that nearly two-thirds expect to retire at the same time, while only 11 percent actually do.

The gap between what couples assume and what they have actually discussed is where retirement quietly breaks down.

The good news is that most couples are not as far apart as they fear. They just have not had the conversation yet.

👉 If retirement is somewhere on your horizon, the most valuable thing you can do right now is not check your portfolio.

It is to sit down with your partner and start asking the questions you have both been putting off.

Could you find your most important financial documents in 10 minutes?

A mortgage statement.

An insurance policy.

A loan document.

A birth certificate.

A will or other important record.

If those files are scattered across drawers, emails, apps, and old folders, now is a good time to give them a real home.

Start by grouping documents by type, labeling the folders, and deciding what should be stored physically, digitally, or both.

A little organization now can make those important records much easier to find later.

https://www.kiplinger.com/personal-finance/how-to-store-your-financial-documents

𝘿𝙤 𝙄 𝙤𝙬𝙚 𝙩𝙖𝙭𝙚𝙨 𝙬𝙝𝙚𝙣 𝙄 𝙨𝙚𝙡𝙡 𝙤𝙧 𝙩𝙧𝙖𝙙𝙚 𝙘𝙧𝙮𝙥𝙩𝙤?

If you made money on the transaction, yes.

The IRS treats cryptocurrency as property. So selling crypto, swapping one token for another, or using crypto to buy something can create a taxable gain.

The real question is whether or not you received more than you paid.

To figure that out, you need to know:
• What you originally paid
• What you received when you sold or traded it
• Any fees tied to the transaction
• How long you held the crypto

Crypto held for one year or less is generally taxed as a short-term gain. Crypto held for more than one year may qualify for long-term capital gains rates.

If you made several trades, used more than one wallet, or aren’t sure what needs to be reported, reach out before you file.

Consumers continued spending in May, even as higher prices and gas costs remained part of the picture.

Retail sales rose 0.9% in May, up from a revised 0.4% increase in April. Excluding gas station sales, retail sales rose 0.7%.

The gains were broad-based, with clothing, accessories, furniture, and online sales all moving higher. Online sales rose 1.5% during the month.

The data suggests consumers are still spending, supported in part by tax refunds and steady hiring. However, economists noted that the boost from tax refunds may fade, and higher gas prices could still affect household behavior.

Some shoppers appear to be adjusting by looking for discounts, changing where they fill up, or becoming more selective with purchases.

For the broader economy, retail sales offer a useful snapshot of consumer strength — and how households respond when prices, fuel costs, and confidence all shift at once.

Retail sales up a strong 0.9% in May, underscoring the resilience of the US consumer Shoppers stepped up their spending in May, surpassing economists’ expectations, as temperatures warmed and gasoline prices leveled off.

We're almost at the midyear mark of 2026. Which means you still have six full months left in 2026 to shape your tax outcome for this year.

So let’s look forward now while we can actually lower your bill.

Call us to book your midyear review today.

There's a version of your father you didn't know. The one who existed before you came along. Before the responsibility. Before the sacrifices, you may not have fully understood until you were older.

Most of us only piece that together with time.

What fathers leave behind isn't just memories. It's a way of moving through the world.

A standard.

A sense of what it looks like to take care of the people who depend on you.

That's worth honoring. 👔

Happy Father's Day weekend to every father and father figure out there.

𝙒𝙝𝙚𝙣 𝙬𝙞𝙡𝙡 𝙎𝙦𝙪𝙖𝙧𝙚, 𝙎𝙩𝙧𝙞𝙥𝙚, 𝙋𝙖𝙮𝙋𝙖𝙡, 𝙤𝙧 𝙑𝙚𝙣𝙢𝙤 𝙨𝙚𝙣𝙙 𝙢𝙮 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙖 𝙩𝙖𝙭 𝙛𝙤𝙧𝙢?

For the 2026 tax year, payment apps and online marketplaces are expected to send Form 1099-K only if your business processes more than $20,000 in gross payments and has more than 200 transactions on the platform.

If you use a traditional direct merchant credit card processor, the 200-transaction threshold does not apply. Card payments will be reported on Form 1099-K regardless of the amount.

Not receiving a tax form doesn’t mean the income can be left off your business records or tax return.

If money came into your business, your records should show the gross sale, any processor fees, refunds or chargebacks, and the final deposit.

On a scale of 1 to 10, how confident are you that your payment app fees, refunds, and chargebacks are being tracked correctly in your books?

That's Abraham Lincoln's signature.

It appears on the Emancipation Proclamation, signed January 1, 1863.

Yet, it would be two and a half more years before enslaved people in Texas learned they were free.

They were kept in the dark on purpose.

On June 19, 1865, Union soldiers arrived in Galveston and delivered the news.

That's what Juneteenth commemorates.

It has been celebrated by Black Americans for more than 150 years and became a federal holiday in 2021. It's a day worth understanding, not just observing.

Wishing everyone a meaningful Juneteenth. 🤍

Saving for retirement gets a lot of attention. Spending those savings can be just as important.

A recent survey found that only 31% of Americans know what “decumulation” means — the process of drawing down retirement assets over time.

That uncertainty may help explain why some retirees spend far less than they could. One report found that about one-third of retirees still had 100% or more of their initial retirement assets by their mid-80s.

For many people, the concern is not just having enough saved. It is knowing how to use those savings while accounting for healthcare costs, inflation, taxes, market changes, and longevity.

Common withdrawal guidelines, such as the 4% rule, may provide a starting point, but they do not account for every personal circumstance.

The transition from saving to spending can be both emotional and financial. After decades of building retirement assets, using them thoughtfully can take a different kind of confidence.

The retirement issue most Americans don't see coming: Spending their savings Many Americans spend decades saving for retirement, but lack a plan for using that money once they stop working, a new survey finds. Here's what to know.

If you’ve been thinking through a few “what if” questions lately—around cash flow, building savings, or whether it makes sense to rent or buy—I wanted to point you to a few new tools we added to our website.

These calculators are designed to help you run quick scenarios and see how small changes can affect the bigger picture. You can explore topics like budgeting, savings goals, and a rent-versus-buy comparison, then adjust assumptions (income, expenses, home price, down payment, timeframe, etc.) to see how the results shift.

All Calculators | Michael Rose, CPA PC The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information r...