Today we are highlighting four timely topics related to 529 plans and the economic environment: time horizon, left-over 529 funds, tax considerations for college refunds and qualified apprenticeship training programs
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) that was passed March 27th, 2020 includes temporary, but meaningful, changes to laws relating to income planning for 2020.
As we have been advised to exercise our business continuity plan and work remotely, I am surprised by the ease and efficiencies we have uncovered while working together “apart.”
Before anyone makes sudden shifts in their asset allocation strategies based on recent market actions, we believe it is important to keep the following points in mind...
Transitions in a career, sale of a business, retirement, buying or selling a home, children or grandchildren, or other life change can cause stress. This discussion with Ruth Tongen, Senior VP of think2perform, highlights how clients can go through transition in a healthful way.
President Trump signed The Setting Every Community Up For Retirement Enhancement Act of 2019 (The SECURE Act) into law on December 20th, 2019. The thirty-one sections of legislation came at long last through bipartisan efforts throughout 2019, and they include some key changes to decisions, rules, and elections relating to how pre-tax accounts play into retirement income and other financial planning.
Turning your interest into a sustaining hobby is the first step to enjoying those golden years in retirement.
With the recent blast of frigid air and Thanksgiving around the corner, I would like to share a very personal experience that I’m sure has happened to you also.
Cash balance pension plans have seen a rebound in popularity as small businesses and professional groups seek a balance between sometimes competing desires to attract new employees, supplement benefits for senior executives and owners, and minimize tax and benefit expenses. Most often used as a complement to defined contribution arrangements such as 401k and profit sharing plans, properly designed cash balance plans provide a greater degree of flexibility and potentially much greater tax benefits. From both a short- and long-term standpoint, it may be an option worth exploring.
Under current tax laws, ‘Superfunding’ a 529 college saving account allows you to make five years of contribution ( 5 X $15,000 = $75,000) at one time while still qualifying for the annual gift tax exclusion.