Summer is a good time to work on your 2007 tax planning, as you do not miss items that changed at the end of last year such as the state sales tax, Archer MSA, college tuition and teacher’s supplies deductions.

We recommend, as always, reviewing your asset allocation. When the DOW was reaching new highs, there was sense of complacency by investors regarding their portfolios. Now the market has declined again. All of this suggest that it is a time to review portfolios. People need to ask: Do my investments have an international component? How much should I have in bonds? What should I add as market neutral or other investments that are not correlated to the US stock market?

We prepared the most income tax returns for 2006 that we have ever done, continue to act as the CFO of the restaurant in Jamaica Plain, have taken on more estate probate work, and have a couple of clients considering Reg. D private securities offerings.

Barry expects to get his J.D. in December and continues to do real estate and tax work, as well developing expertise on corporate and non-profit issues.