Key Takeaways 529 plan funds can grow federally tax-free when used for qualified expenses  The SECURE Act of 2019 expanded the list of qualified expenses, including apprenticeships and student loans Contribute up to $75,000 all at once without paying the gift tax It’s no secret that the cost of college has been on the rise. […]

Continue Reading

Key Takeaways School is likely to look different this fall  Where you put your money should reflect your long-term goals  Tweak your plans as needed Everything about how we interact with the world seems to be in flux in 2020—and that includes back-to-school plans for the fall. Whether your child is in elementary school, high […]

Continue Reading

Key Takeaways The average annual tuition at a private four-year college is more than $32,000 529 college funds can help supplement costs Any family member can use a 529 plan—even the parent Among the many things COVID-19 changed is how we view post-secondary education. Many parents and students now ask if the traditional college experience […]

Continue Reading

Key Takeaways There are several potential tax benefits for education expenses—some in the form of credits and others as deductions Recent tax law changes made 529 plans more flexible Review your situation to see which tax benefits work for you With all that’s been going on in the world, it’s hard to keep up with […]

Continue Reading

Key Takeaways Estate planning can be helpful for any income level Make sure the beneficiaries named in your financial accounts match the intentions set forth in your will Learn about 529 plans and other tax-advantaged strategies that can be employed now None of us likes to think about dying—and what will happen to our money […]

Continue Reading

Key Takeaways Create a budget and track your inflows and outflows Understand the importance of an emergency fund Assess your goals for retirement, larger purchases, and debt repayment  It’s exciting to start your first “real” job, accessing a paycheck that allows you to live on your own terms. Although seeing that money in your bank […]

Continue Reading

Key Takeaways The forms you need to prepare your tax returns—including W-2s and 1099s—should start arriving by February Your income level and the complexity of your situation will determine whether you file Form 1040 or a 1040A You’ll also attach certain schedules if you have itemized deductions, capital gains or losses, or are self-employed The […]

Continue Reading

New rules for 2014 changed how brokerage firms report options trading activity and other transactions to their customers on year-end filings. It’s not as boring as it sounds (really). Because if you’re trading options, the changes affect you. The new rules dealing with options are part of multi-year roll out of updated broker reporting requirements […]

Continue Reading

Before you decide how you will spend, save, or invest your tax refund, you’ll want to make sure the check is in the mail to you or your bank account—not a criminal’s. Tax refund fraud is on the rise. The IRS estimates it paid $5.8 billion in fraudulent refunds in 2013, the latest year for […]

Continue Reading

If you subscribe to the shoebox method of tax record-keeping, we’re here to help. The latest tax filing season is ending, so you may be wondering how to handle that big pile of receipts, pay stubs, cancelled checks, and brokerage statements cluttering up your dining room table. Well, there are some simple rules to help […]

Continue Reading