Celebrate Easter Weekend at the Lake of the Ozarks

With Spring here, the Lake of the Ozarks is getting back into the swing of things. The weather is getting warmer and the things to do here are increasing. Easter is this weekend and there is plenty to do. Take the kids to an Easter egg hunt or enjoy a nice meal out with the family. Here are just some of the local events you may want to check out!

5th Annual Giant Easter Egg Hunt - April 4 

Load up the family and head to Mother Nature's Riverfront Retreat at the Tunnel Dam Garden Center for the 5th Annual GIANT Easter Egg Hunt! Be sure to come early, the first 200 cars will get a token for a free night of camping! Gates open at 1:30 pm and the hunt begins at 3 pm. Cost is $5 per car.

Easter Eggstravaganza - April 4

This popular event will feature free food, inflatables, games, clowns, entertainment and egg hunts. The event will run from 2-4 pm.

1st Annual Osage Beach Easter Egg Hunt - April 4

Join us Saturday, April 4th at the Osage Beach City Park for fun free activities and food. Activities start at Noon and the egg hunts begin at 1:00 P.M. Children will be divided into three age groups: 4 and under (with an adult); 5-8 years; 9-12 years. Activities include local 4H Club project rabbit displays, pictures with the Easter Bunny, Face Painting and Bounce Houses. So come out to the Osage Beach City Park for a fun afternoon!

11th Annual Easter Egg Hunt in the Park - April 5

On Easter Sunday the Laurie Easter egg hunt attracts children from tots to teens to find 14,000 eggs "hidden" throughout the fair grounds. The Easter Bunny always makes an appearance to the delight of everyone. The event will run from 2-3 pm.

Camden on the Lake's Easter Brunch - April 5

Join Camden on the Lake and H. Toad's as we celebrate Easter Brunch! Those Guys will be performing while you enjoy delicious options such as omelets made to order, a deluxe hash brown casserole, hickory smoked bacon, Chicken Marsala, Herb Crusted Roast Prime Rib, pan seared grouper with bay shrimp, and much more! Brunch will be served from 11 am to 3 pm.

Easter Day Buffet at Tan-Tar-A Resort - April 5 

Join us for our fabulous Easter Buffet featuring Carved Bourbon Praline Glazed Ham, Carved Prime Rib with Au Jus and Horseradish Cream, Chicken Bonne Femme with White Wine Cream and Mushrooms, Salmon Nicoise topped with a Mediterranean Olive Blend, Smoked Pork Chops with Apple Bacon Chutney and much more! The buffet will be held from 11 am - 3 pm in the Grand Ballroom. Reservations are required. Please call 573-348-8619. Ticket prices are as follows: adults $27.95, children 4-12 $14.95, seniors $19.95 and children under 4 are free.

Easter Brunch at Inn at Grand Glaize - April 5

Join us for Easter Brunch on Sunday, April 5 from 10 am to 2 pm. The carving station will feature baked Virginia Ham and Baron of Beef. Other favorites on the menu includes cold smoked salmon, lemon glazed tilapia, chicken florentine, omelets, waffles, vegetable blend, au gratin potatoes, spinach madeline, corn o'brien, wild rice, deviled eggs, salads, pastries, desserts and fresh fruit. Enjoy all of this for only $19.95 for adults, $15.95 for seniors and $8.95 for children 7-12. Children 6 and under are free!

Easter Brunch at The Lodge of Four Seasons - April 5

Enjoy Easter Brunch in the Granada Ballroom from 11 am to 3 pm. Prices are $39.95 for adults, $14.95 for children 6-12 and chidren 5 & under are free. Reservations are recommended. Please call 1-800-843-5253.

Your Lake of the Ozarks mortgage lender hopes you have a great Easter weekend! With Easter here, Spring is underway and now's the perfect time to consider purchasing a home. For all your Lake of the Ozarks home financing needs, contact me at 573-746-7211.

For Lake area news, resources and tips on financial services, please 

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Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

12 Tax Scams to Watch Out For in 2015

The Internal Revenue Service has released a list of tax scams with a warning to taxpayers about aggressive telephone scams continuing coast to coast this tax season. These phone calls from scam artists continue to be seen on a daily basis across the nation. The IRS urges tax payers not to give out money or personal information as a result of these phone calls or from emails claiming to be from the IRS. There are simple steps you can take to help stop these con artists. Here is a recap of this year's 12 scams:

1. Aggressive Phone Calls 

Aggressive and threatening phone calls by criminals impersonating IRS agents remains an ongoing threat to taxpayers. The IRS has seen a surge of these phone scams in recent months as scam artists threaten police arrest, deportation, license revocation and other things. The IRS reminds taxpayers to guard against all sorts of con games that arise during any filing season.

2. Phishing

Taxpayers need to be on the lookout for fake emails or websites looking to steal personal information. The IRS will not send you an email about a bill or refund out of the blue. Don’t click on one claiming to be from the IRS that takes you by surprise. Taxpayers should be wary of clicking on strange emails and websites. They may be scams to steal your personal information.

3. Identity Theft

Taxpayers need to watch out for identity theft especially around tax time. The IRS continues to aggressively pursue the criminals that file fraudulent returns using someone else’s Social Security number. The IRS is making progress on this front but taxpayers still need to be extremely careful and do everything they can to avoid becoming a victim.

4. Return Preparer Fraud

Taxpayers need to be on the lookout for unscrupulous return preparers. The vast majority of tax professionals provide honest high-quality service. But there are some dishonest preparers who set up shop each filing season to perpetrate refund fraud, identity theft and other scams that hurt taxpayers. Return preparers are a vital part of the U.S. tax system. About 60 percent of taxpayers use tax professionals to prepare their returns.

5. Offshore Tax Avoidance

The recent string of successful enforcement actions against offshore tax cheats and the financial organizations that help them shows that it’s a bad bet to hide money and income offshore. Taxpayers are best served by coming in voluntarily and getting their taxes and filing requirements in order. The IRS offers the Offshore Voluntary Disclosure Program (OVDP) to help people get their taxes in order.

6. Inflated Refund Claims

Taxpayers need to be on the lookout for anyone promising inflated refunds. Taxpayers should be wary of anyone who asks them to sign a blank return, promise a big refund before looking at their records, or charge fees based on a percentage of the refund. Scam artists use flyers, advertisements, phony store fronts and word of mouth via community groups and churches in seeking victims.

7. Fake Charities

Taxpayers should be on guard against groups masquerading as charitable organizations to attract donations from unsuspecting contributors. Contributors should take a few extra minutes to ensure their hard-earned money goes to legitimate and currently eligible charities. IRS.gov has the tools taxpayers need to check out the status of charitable organizations. Be wary of charities with names that are similar to familiar or nationally known organizations.

8. Hiding Income with Fake Documents

Hiding taxable income by filing false Form 1099s or other fake documents is a scam that taxpayers should always avoid and guard against. The mere suggestion of falsifying documents to reduce tax bills or inflate tax refunds is a huge red flag when using a paid tax return preparer. Taxpayers are legally responsible for what is on their returns regardless of who prepares the returns.

9. Abusive Tax Shelters

Taxpayers should avoid using abusive tax structures to avoid paying taxes. The IRS is committed to stopping complex tax avoidance schemes and the people who create and sell them. The vast majority of taxpayers pay their fair share, and everyone should be on the lookout for people peddling tax shelters that sound too good to be true. When in doubt, taxpayers should seek an independent opinion regarding complex products they are offered.

10. Falsifying Income to Claim Credits

Taxpayers should avoid inventing income to erroneously claim tax credits. Taxpayers are sometimes talked into doing this by scam artists. Taxpayers are best served by filing the most-accurate return possible because they are legally responsible for what is on their return.

11. Excessive Claims for Fuel Tax Credits

Taxpayers need to avoid improper claims for fuel tax credits. The fuel tax credit is generally limited to off-highway business use, including use in farming. Consequently, the credit is not available to most taxpayers. But yet, the IRS routinely finds unscrupulous preparers who have enticed sizable groups of taxpayers to erroneously claim the credit to inflate their refunds.

12. Frivolous Tax Arguments

Taxpayers should avoid using frivolous tax arguments to avoid paying their taxes. Promoters of frivolous schemes encourage taxpayers to make unreasonable and outlandish claims to avoid paying the taxes they owe. These arguments are wrong and have been thrown out of court. While taxpayers have the right to contest their tax liabilities in court, no one has the right to disobey the law or disregard their responsibility to pay taxes. The penalty for filing a frivolous tax return is $5,000.

As you're taking a look at your financials this tax season, consider what refinancing your home at the Lake of the Ozarks could do for you. As your Lake of the Ozarks mortgage lender, I am here to help you every step of the way. Whether your looking for a new home loan or just a refinance, I'll discuss financing options, offer competitive rates and back it up with the first class service you deserve!

For Lake area news, resources and tips on financial services, please 

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Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

Borrowers Saved Billions in Interest Payments by Refinancing in 2014

In the recent release of Freddie Mac's 4th quarter 2014 quarterly refinance analysis, results showed that borrowers are continuing to take advantage of near record-low mortgage rates to lower their monthly payments. Borrowers are also shortening their loan terms and choosing the safety of long-term fixed-rate mortgages. Over the next 12 months, those borrowers who refinanced in 2014 will save approximately $5 Billion in interest.

Refinancing Trends

The lastest refinance report shows the refinance boom continued to wind down as the pool of potential borrowers declined over the course of 2014. However, due to mortgage rates falling in the 4th quarter of last year, the share of refinance originations slightly increased despite volumes being down. Since mortgage rates have moved even lower, this trend is also expected in the 1st quarter of 2015. Lower mortgage rates, coupled with greater house prices appreciation last year, also brought about a larger share of borrowers cashing out home equity at the time of refinance. However, while the total percentage was up, the total dollar amount declined by nearly $1 Billion from the 3rd quarter of 2014, and nearly $4.6 Billion from the 4th quarter of 2013.

Cash-Out Refinancing

Compared to historical volumes, the net dollars of home equity converted to cash as part of a refinance remained low. An estimated $6.7 Billion in net home equity was cashed out during a refinance of conventional prime-credit home mortgages in the 4th quarter. this is down from a revised $7.6 Billion the previous quarter. For the entire year, an estimated $24 Billion in net home equity was cashed out, down from $28.6 Billion in 2013. The peark in cash-out refinance volume was in the 2nd quarter of 2006 at $84 Billion, with an annual volume of $320.6 Billion. Adjusted for inflation, annual cash-out volumes during 2010 through 2014 have been the smallest since 1997.

Change in Loan Term

During the 4th quarter of 2014, 34% of those refinancing borrowers shortened their loan term. This is down from the 35% from the previous quarter. Further, 35% of those who refinanced outside of HARP took out a shorter-term loan, while 33% of HARP borrowers shortened their term. Of the rest of the borrowers, 60% kept the same term as the loan they had paid off and only 6% chose to lengthen their loan term.

Interest Rate Reduction

The average interest rate reduction was about 1.3 percentage points in the 4th quarter. That is a savings of about 23%. On a $200,000 loan, that translates into saving about $2,500 in interest during the first 12 months. Homeowners who refinanced through HARP during the 4th quarter of 2014 benefited from an average reduction of 1.6 percentage points and will save an average of $3,300 in interest during the first 12 months or about $275 every month. About 71% of those who refinanced their first-lien home mortgage maintained about the same loan amount or lowered their principal balance by paying in additional money at the closing table. That is shy of the 88% peak during the 2nd quarter of 2012.

Fixed-Rate Loans

More than 95% of refinancing borrowers chose a fixed-rate loan. Regardless of what the original loan product was, fixed-rate loans were preferred. For example, 67% of borrowers who had a hybrid ARM refinanced into a fixed-rate loan during the 4th quarter. Only 4% of borrowers who had a fixed-rate loan chose an ARM. For all other (non-HARP) refinances during the 4th quarter, the median property value was up 5% between the dates of placement of the old loan and the new refinance loan. The prior loan had a median age of 5.8 years and 35% of borrowers shortened their loan term.

Interest rates currently remain near historic lows. If you are interseted in refinancing your home at the Lake of the Ozarks, give me a call at 573-746-7211. When it comes to your financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the first class service you deserve!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

Celebrate St. Patrick's Day at the Lake of the Ozarks!

St. Patrick's Day is just a week away and the Lake of the Ozarks is the place to celebrate! The annual parade on the strip is something you don't want to miss. In addition to the great events below, you can celebrate at many other restaurants and bars around the Lake area. So grab your green and get on down to the Lake of the Ozarks this weekend!

31st Annual St. Patrick's Day Parade:             March 14, 1 PM

Join in the fun of an old fashioned parade with floats, marching bands and candy and goodies for the young and young at heart. Many of the local restaurants along the strip will be offering specials and corned beef and cabbage feasts.

St. Patrick's Short Bus Shuffle: March 14, 4 PM

Shuffle on over to the Westside for the 4th Annual St. Patrick's Short Bus Shuffle. Busses start at 4pm and it is $5 per person to attend. All wristbands are available at all participating locations. All proceeds to benefit local charities. Participating stops will make this a night you won't want to miss!

St. Patrick's Water Parade: March 14, 8 AM - 4 PM

The parade is a fun day trip on the water and a perfect way to kick off the Spring boating season! 

New route this year will start us out at Captain Ron's (34.5 MM). Optional Breakfast Buffet beginning at 8 a.m. Boats depart and parade begins at 10 a.m. Captain Ron's (34.5 mm, LR 5-50) to Bear Bottom (38 mm, LR 5-36) to Bulldogs Beach House (33 mm, LR 5-65) and then Larry's on the Lake 31 mm, Pier 31 Road). There will be the cruise boat again this year with tickets available through the Chamber office for only $25. Please call the Chamber office to purchase tickets. 573.374.5500. 

Happy St. Patrick's Day from your Lake of the Ozarks mortgage lender! For all of your Lake of the Ozarks home loan and refinancing needs, contact Michael Lasson at 573-746-7211. When it comes to your financing needs, I'm committed to working with you every step of the way! 

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

5 Tax-Saving Strategies to Help This Tax Season

Millions of Americans face the challenge of meeting financial and time budgets each month. Knowledge is power and time is money. So what if you don't have the time to empower yourself with knowlegde? For many homeowners at the Lake of the Ozarks, that means losing out on thousands of dollars through tax deductions. Abedeen, a partner at Safeguard Investment Advisory Group, offers the following strategies that may be relevant for you this tax season:

1. Take tax deductions for capital loss. 

If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately. However, you may deduct capital losses only on an investment property, not on property held for personal use.

2. Fund your retirement to the max. 

You can contribute up to $5,500 to an IRA in tax-year 2014 or $6,500 if you are age 50 or older. Workers in the 25% tax bracket who contributed $5,500 to an IRA would save $1,375 on their 2014 tax bills. You'll want to check your eligibility and understand the deadline for the 2014 deduction. If you make a deposit between January 1 and April 15, you need to tell the financial institution which year the contribution is for.

3. Advisory fees are tax-deductible. 

If you don't feel like spending money to save and make money, there's a workaround. Before closing the door on the possibility, inquire with a financial expert. Most are happy to give a free initial consultation and you don't have to be a millionaire to make it worth your while.

4. Gift assets to children. 

You don't even have to file a gift tax return on an asset that's valued less than $12,000, which is not taxable. If the fair market value of the gifted asset is more than $12,000 per person per year, but less than $1 million, there is a requirement of filing a gift tax return, but you won't be taxed. The gift will not be income-taxable to the recipient.

5. Deduct a home-based office when used for your employer. 

If space in your home is used exclusively and regularly for a trade, you can count that as a deductible. Calculate the square footage of your home office and divide the area of your office by the area of your house. If the percentage is 14%, for example, that represents the percentage of your total home expenses that can be allocated toward the home office deduction.

For further questions on tax-saving, Your Lake of the Ozarks mortgage lender recommends consulting a tax professional. Taxes and finances go hand in hand. When it comes to your financing needs, I'm committed to working with you every step of the way. Contact me today at 573-746-7211 to get started on a new home loan or refinancing your home at the Lake of the Ozarks!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com