Tag Archives: Education Funding
Caring for a Grandchild?
Sam lives with his grandparents. They became his primary caregivers after his parents died in a tragic accident.
Jeffrey also lives with his grandparents. He never knew his father and, recently, his mother has been battling a substance abuse problem.
Sara’s parents are working overseas in a dangerous corner of the world, so Sara has been living with her grandmother for nearly three years.
More than six percent of children in the United States live with their grandparents—the highest rate in decades. In (continue reading…)
Posted in High Net Worth Practice, Personal Wealth Planning Services, Tax Services
Tagged Education Funding, Personal Finances, Personal Tax, Tax Credits + Incentives, Wealth Planning
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Think It’s Too Early to Plan for April 15, 2010?
No battle plan survives contact with the enemy, according to Colin Powell.
Unfortunately, the same can generally be said of your tax plan―which is subject to damage from changing legislative and economic realities. But the fact that you may have to adapt your plan during the year to reflect such altered circumstances is no reason not to have one.
This year, there are quite a number of new or expiring tax credits and deductions at state and federal levels that could (continue reading…)
Posted in High Net Worth Practice, Tax Services
Tagged Education Funding, Personal Tax, Retirement Planning, Tax Credits + Incentives
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Wondering How the American Recovery and Reinvestment Act of 2009 Affects You?
Calling it a “major milestone on our road to recovery,” President Obama signed the $787 billion American Recovery and Reinvestment Act of 2009 into law on February 17, 2009.
In addition to provisions for infrastructure spending, help for the poor and unemployed, and investment in alternative energy, this wide-ranging legislation enacts new federal tax relief provisions and extends a number of expired or expiring federal tax breaks.
According to the newly launched stimulus-tracking website Recovery.Gov, $288 billion of the Act’s projected $787 (continue reading…)
Posted in High Net Worth Practice, Personal Wealth Planning Services, Tax Services
Tagged AMT, Education Funding, Home Ownership, Legislation, Personal Finances, Personal Tax, Tax Credits + Incentives
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Concerned About the Value of Your 529 College Savings Plan?
“Paying for college has become increasingly difficult for most American students and families,” according to a new report by the National Center for Public Policy and Higher Education.
“The cost of college, even with financial aid, represents a larger share of the income of most American families than it did ten years ago.”
As a result, more families have begun investing in tax-advantaged 529 college savings plans to provide for future college costs. In fact, Americans have invested more than $120 billion (continue reading…)
Posted in High Net Worth Practice, Personal Wealth Planning Services
Tagged Education Funding, Personal Finances, Personal Tax, Tax Credits + Incentives
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Up on the New Deductions and Limits for 2009?
Change just may be the only constant when it comes to your taxes.
The new year brings federal tax changes in the standard deduction and personal exemption amounts, as well as the Social Security taxable wage base, retirement plan limits, and business equipment deductions, to name just a few.
Knowing the new amounts can be crucial to your tax and transaction planning for the coming year.
2009 Quick Reference: Tax Limits, Deductions, and Other Important Amounts
Taxes impact most of your business and financial (continue reading…)
Heard about the Financial Bailout Bill’s Tax Relief Provisions?
You don’t work on Wall Street, so the new financial bailout legislation doesn’t benefit you. Right?
Wrong, at least for most people.
To secure passage of H.R. 1424, the Emergency Economic Stabilization Act of 2008, Congress supplemented the financial bailout provisions with alternative minimum tax (AMT) relief and temporarily (through 2009) increased the basic deposit amount insured by the FDIC from $100,000 to $250,000 per depositor, per insured bank.
Congress also extended expired or expiring tax breaks, enacted new tax relief provisions, and (continue reading…)
Prepared for the Cost of a College Education?
Perhaps the only thing more expensive than getting a college education is not getting a college education.
Certainly the lost earnings potential for those with only a high school diploma is enormous. A person with a college education earns $23,000 more each year, on average, than does a person with only a high school education.
But the costs of college can be daunting, even for affluent families. And the cost of a college education continues to increase faster than the rate of inflation.
If your child (continue reading…)
Posted in Personal Wealth Planning Services
Tagged Education Funding, Estate + Gift, Investments, Personal Finances, Personal Tax, Tax Credits + Incentives, Wealth Planning
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Know an Entering College Freshman? Free Money Management Seminar
Credit card offers, checking accounts, money management… Midterms and finals aren’t the only challenges for college students these days.
Entering freshmen also face a dizzying array of financial decisions and responsibilites. What’s the best checking account for me? How should I keep track of my money? Do I really need a credit card? What about identity theft?
National surveys of graduating high school seniors indicate that most young people are woefully unprepared for their new financial responsibilities–sometimes with disastrous consequences. To ease (continue reading…)
Posted in Firm News and Announcements, Personal Wealth Planning Services
Tagged Education Funding, Personal Finances, Wealth Planning
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Changes to the Kiddie Tax Affecting Your Financial Plans?
They say the best laid plans… Ian intended to fund his son Max’s college education, at least in part, by gifting appreciated stock and mutual fund shares to Max.
Max will fall into the 10 or 15 percent tax brackets during his college years. That means he can sell the gifted stock and take advantage of the significantly lower federal tax rate on capital gains that is available to lower-income taxpayers through 2010. Given Max’s tax bracket, his capital gains tax (continue reading…)
Posted in High Net Worth Practice, Personal Wealth Planning Services, Tax Services
Tagged Education Funding, Estate + Gift, Investments, Personal Finances, Personal Tax, Wealth Planning
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Know Your Options for Education Funding?
Benjamin Franklin once said that an investment in knowledge pays the best interest. It’s still true today–there’s real value in an education.
Of course, future earning power is only one measure of the return on your investment. But according to U. S. Census Bureau data, on average, people with a college education earn $23,000 more each year than do those with only a high school education.
Unfortunately, the cost of this investment continues to increase faster than the rate of inflation. Even (continue reading…)
Posted in High Net Worth Practice, Personal Wealth Planning Services, Tax Services
Tagged Education Funding, Estate + Gift, Investments, Personal Finances, Tax Credits + Incentives, Wealth Planning
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