Bradley Barnhorst

Investment Committee Counsel

Brad joined Canon Capital in 2016 and serves as Investment Committee Counsel.  He is a recognized expert in investment portfolio risk and volatility reduction, with numerous published works in both scholarly and professional journals.   In addition to his role with Canon Capital, he serves as the Chair of the Finance Major and CFP Program Director for both the undergraduate and graduate divisions at DeSales University.  He has prior experience as an Associate Director for Bear, Stearns & Co. specializing in structured equity products and derivatives geared to mitigating investment risk. He holds the Chartered Financial Analyst (CFA) designation.  He has earned a Bachelor of Arts Degree in Computer Science from Harvard University as well as a Master of Business Administration (MBA) with a concentration in Corporate Finance and Investment Management from Penn State University.

Spreading Holiday Cheer: 48 Shoeboxes Stuffed with Love at our Operation Christmas Child Party

‘Tis the season for our annual Operation Christmas Child project. Members of our Canon team spent their lunch breaks participating in a shoebox stuffing party. We packed 48 total boxes of toys, necessities, and other surprises to delight children in need this holiday season. Special thanks to Linda Covel from our Payroll and CPA business units who not only set up our project, but she also serves year-round as a volunteer for Operation Christmas Child.

Marissa Illingworth

Chief Compliance Officer

Marissa joined Canon Capital Wealth Management in December 2018. She brings a background in financial services and technology, having served previously as a client and advisor support professional at an investment, insurance, and financial services firm. In addition to earning a Bachelor of Arts in English with a minor in Business Administration from Millersville University of Pennsylvania and an Associate of Science degree in Liberal Studies from Montgomery County Community College, Marissa also holds various security and insurance licenses. A native of the Harleysville and Souderton region, she now lives in Lancaster, Pennsylvania with her husband, William. Marissa is an avid arts and culture fan and regularly attends performances at the Fulton Theater and sets the goal of seeing a Broadway show at least once each year. Marissa’s work with us is based out of The Candy Factory, a co-working office space in historic downtown Lancaster.

Daniel Hagen

Staff Accountant

Daniel joined Canon Capital as a Staff Accountant in November 2022. A graduate of Temple University with a Bachelor of Business and Marketing, he began his accounting career in tax preparation and is pursuing his CPA. Outside of work, Daniel leads worship at Renew Community Church and spends his free time playing guitar, practicing martial arts, and snowboarding. The kitchen of his Quakertown home is the place to be thanks to the scent of the sourdough bread he bakes from scratch.

QuickBooks Desktop is Going Away: Now What? Find Out at Our Webinar on January 11, 2024

Intuit, the owner of QuickBooks, is accelerating the sunset of QuickBooks Desktop versions. This will have a major impact over the coming year on anyone using these desktop versions of the software.

Please plan to join us Thursday, January 11, 2024, when Canon Capital team members Brent Thompson, Craig Covington, and Cherie Strozzieri will present QuickBooks Desktop users with options for this transition, including:

  • Making the move from QuickBooks Desktop to QuickBooks Online.
  • The transition, functionality, and integration of QuickBooks Online and the future of efficient, automated, accounting services.
  • Latest trends in accounting program integration and automated accounting services.
  • The broader technical implications of online security, acceptable use policies, and business continuity issues that come with utilizing online programs.

This presentation is not exclusive to Canon Capital clients. Please feel free to share this opportunity with those who you feel will benefit from this information.

If you are a Canon Capital client, we ask that you please consult with a member of our Canon Capital team prior to making any changes to your current QuickBooks set-up so we can ensure a smooth transition.

Register for the webinar here. The registration deadline is Tuesday, January 9, 2024. After registering, you will receive a confirmation email containing information about joining the meeting.

IRS Introduces Updated Tax Brackets and Other Adjustments for Tax Year 2024

The IRS recently announced their annual inflation adjustments for the tax year 2024. These changes include updates to the standard deduction and tax brackets.

Standard Deduction

The standard deduction will rise for both single filers and married couples filing jointly:

  • Married Couples Filing Jointly: increase from $27,700 to $29,200 ($1,500 increase)
  • Single Taxpayers and Married Individuals filing separately: increase from $13,850 to $14,600 ($750 increase)

Tax Brackets

The IRS made the following adjustments to offset inflation so that taxpayers are not placed into higher tax brackets simply due to a rise in income.

10% Bracket
Single filers: taxable income of $11,600 or less
Married couples filing jointly: taxable of $23,200 or less

12% Bracket
Single filers: taxable income between $11,601 and $47,149
Married couples filing jointly: taxable income between $23,201 and $94,299

22% Bracket
Single filers: taxable income between $47,150 and $100,524
Married couples filing jointly: taxable income between $94,300 and $201,049

24% Bracket
Single filers: taxable income between $100,525 and $191,949
Married couples filing jointly: taxable income between $201,050 and $383,899

32% Bracket
Single filers: taxable income between $191,950 and $243,724
Married couples filing jointly: taxable income between $383,899 and $487,449

35% Bracket
Single filers: taxable income between $243,725 and $609,349
Married couples filing jointly: taxable income between $487,450 and $731,199

The top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).

Earned Income Tax Credit

The maximum Earned Income Tax Credit for tax year 2024 for those qualifying taxpayers with three or more qualifying children is $7,830. This is an increase of $400 from tax year 2023.

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If you have questions specific to your situation, we’re here to help. Call us at 215-723-4881 or contact us online.

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Our full-service payroll department creates a plan unique to your business, saving you time, money, and stress.

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Vicki Barnes

Director of Payroll Services

Vicki joined Canon Capital in August, 1999 and is responsible for overseeing the daily operations of Payroll Services. Vicki has an Associate’s Degree in Accounting from Montgomery County Community College and has earned the Certified Payroll Professional designation. She is a member of the national American Payroll Association as well the Lehigh Valley Chapter, where she served as Secretary from 2006-2013.  Vicki resides in Sassamansville with her husband and son and enjoys crafts, reading, and kayaking in her free time.