This month, we’re delighted to feature Sheila Kelly, one of U-Vest Financial’s dedicated advisors and VP of the Dothan area! With a foundation in accounting and decades of experience in financial planning, Sheila’s commitment to client success and community involvement shines.
Here’s more about her journey:
- Financial Planning Legacy: After graduating from the University of Alabama, Sheila began her career in public and corporate accounting. Later, she transitioned into financial planning, working alongside her father at Waddell & Reed. When her father retired, Sheila took over the family practice, eventually bringing her expertise to LPL Financial and U-Vest.
- Community Engagement: Active in her community, Sheila has served as President of the Dothan Service League and on the board for Girls, Inc. She is also an involved church member, dedicating time to various initiatives.
- Family and School Involvement: As a proud mother, Sheila supported her son’s school activities for years, including leading the booster club during his high school football and baseball seasons.
Outside of her professional and community roles, Sheila finds joy with her husband Joe, celebrating 40 years of marriage next June. Together, they enjoy travel, cheering on Alabama sports, and spending time with their family, including their son, daughter-in-law, and two grandchildren, Joseph and Lucy. Sheila is an avid reader and looks forward to her upcoming overseas trip to commemorate this special milestone.
- - -
Here are some additional reminders from our U-Vest® Financial team:
Reminder: Utilize FSA Funds Before Year-End
As the year-end approaches, don’t forget to use any remaining Flexible Spending Account (FSA) funds, as most plans require that you spend these tax-free dollars before December 31. Eligible expenses include medical co-pays, prescription costs, and more—don’t hesitate to reach out for advice on allowable expenses!
- - -
Mortgage Rate Check-Up
With potential mortgage rate changes this month, November is a great time to reassess your current mortgage. If rates drop, refinancing could reduce your future payments. Consult your advisor to see if refinancing aligns with your financial goals!
- - -
Important Notice: New Reporting Requirement for LLCs & Corporations
The Beneficial Ownership Information (BOI) report is a mandatory filing that LLCs, S-Corporations, and other entities must submit to the Financial Crimes Enforcement Network (FinCEN). This filing is due by year-end, and it's important to complete it to avoid potential penalties. This includes LLC’s for properties that are not rented. To our knowledge, ALL LLC’s / Corporations in Florida must report.
While we do not provide this filing service, we felt it was very important to notify all of our clients of this requirement, as you may have an LLC or corporation in your family. The good news is the process is simple and can be completed online with minimal effort. You must file by January 1, 2025.
To file or for more information and detailed guidance, you can visit this helpful resource from the State of Florida:BOI Reporting Information.
- - -
Special Dates coming up in December:
December 2 — Cyber Monday
December 3 — Giving Tuesday
December 24 — Christmas Eve
December 25 — Christmas Day
December 31 — IRA Required Minimum Distributions Due
December 31 — New Year’s Eve
December 25 - Jan 2 — Hanukkah
December 26 - Jan 1 — Kwanzaa