Satyasheel Insurance Agency

07/19/2022

Good luck to all the players trying out tonight!!

05/02/2019

Excited to announce our move to a new location in Pikesville MD. Come see us at our new office!

12/25/2018

A very happy team at Satyasheel Insurance Agency in Baltimore MD wishes you all a very Happy Holidays’s Season. Merry Christmas and Happy New Year.

12/13/2017

HERE’S THE NEW 401(K) CONTRIBUTION LIMIT FOR 2018

Retirement savers, rejoice: The IRS just upped the 401(k) contribution limit for 2018, which makes it easier to build your nest egg. In 2018, you’ll be able to contribute up to $18,500 of your paycheck to your workplace retirement plan — that’s $500 above the previous limit and the first time the agency has upped contribution limits since 2015.

That figure includes only what you contribute to employer-sponsored plans like 401(k)s, 403(b)s, most 457 plans and the Thrift Savings Plan for federal employees. The maximum contribution from all sources — your contributions plus whatever your employer puts in on your behalf, such as via a 401(k) match — will also be going up, to $55,000 (that’s $1,000 higher than last year).

While contribution limits to Roth or traditional individual retirement accounts remain the same at $5,500, there is one key difference on the horizon: Income phaseout ranges are on the rise.

If you and your spouse are not covered by a retirement plan at work, you're allowed to deduct what you contribute to a traditional IRA from your taxes. However, if you or your spouse has access to a workplace retirement plan, the amount you can deduct phases out based on your income and filing status. Here’s what the new phaseout ranges will be:

$63,000 to $73,000 (up $1,000 from last year) for single taxpayers
$101,000 to $121,000 (up $2,000) for married couples filing jointly, where the IRA contributor is covered by a workplace retirement plan
$189,000 to $199,000 (up $3,000) for married couples filing jointly, where the IRA contributor is not covered by a workplace plan but their spouse is

Whether you’re eligible to contribute a full or reduced amount — or any amount at all — to a Roth IRA is also determined by income. For 2018, the new phaseout ranges will be:

$120,000 to $135,000 (up $2,000 from last year) for single taxpayers
$189,000 to $199,000 (up $3,000) for married couples filing jointly

Here’s what hasn’t changed: catch-up contribution limits for those 50 and older. It’s still $6,000 for employer-sponsored plans and $1,000 for IRAs.

11/16/2017

J.D. Power has ranked Farmers Insurance #10 for Customer Satisfaction among the top insurers for renters insurance.

The results of the U.S. Home Insurance Study are based on responses from 15,909 online interviews. To conduct this annual study, satisfaction among homeowners and renters’ insurance customers was measured by examining 5 factors:

1. Interaction.
2. Policy offerings.
3. Price.
4. Billing process and policy information.
5. Claims.

Satisfaction is calculated on a 1,000-point scale.

U.S. homeowners and renters’ insurance customer satisfaction scores have reached an all-time high.

10/27/2017

Satyasheel Insurance Agency is honored to have made the proud distinction of Farmers Championship for the year 2016.

10/24/2017

This Fortune article nails what went wrong with Equifax breach in this paragraph that we quote here:

"What’s even more infuriating is that Equifax (EFX, -0.37%) could have averted the disaster just by patching a known vulnerability in its software. Instead, the company dithered for months, allowing hackers to strip-mine Social Security numbers, addresses, credit card numbers, and more from mid-May through July, it said. When Equifax finally discovered the disaster, its first response was not to warn consumers. After waiting nearly six weeks before disclosing the breach in September, it hatched a strategy to turn its victims into paying customers—by signing them up for credit monitoring services, which originally contained fine print depriving them of the right to sue."

The time has come for our data to be protected like our food, water, and children's toys.