Named after Section 529 of the Internal Revenue Code, 529 plans are investment accounts used to pay for a beneficiary’s college expenses and are usually opened many years before the beneficiary reaches college age. Check out this infographic for some interesting statistics about 529 Plans.
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All planning – but especially tax planning – should line up with your goals. You should never do anything solely because you’re going to get a tax benefit. Rather, you should always do things that tie back to your goals, with tax benefits being an added bonus.
As a kid, Zachary Conway’s financial advisor father tried to instill good savings and charitable habits. Conway, founder and CEO of Seeds Investor, recently told the Framework podcast team about how that worked. When he got his monthly allowance, he divided it up among several containers: o …
Last week, Democrats on the House Ways and Means Committee released a draft of their proposed tax plan, which includes changes to corporate, personal and other taxes, as well as retirement plans – though Social Security would be untouched.
My niece’s hard work in high school paid off, and she had many fantastic options for higher education. Despite being from New Jersey, she chose a liberal arts college halfway across the country in Texas and is about to begin her junior year there.
From the family tea set to the most complex estate, transferring wealth – of whatever size and definition – couldn’t be more common. What’s less common but just as important is outlining a specific plan and updating it as circumstances change.
There is a simple but powerful tool called a qualified charitable distribution (QCD) that is a triple threat. They can fulfill your required minimum distribution (RMD), benefit your favorite charities, and reduce your taxable income.
Rebate Checks, Child Tax Credits, Unemployment Benefits and More: What You Need to Know about the $1.9 Trillion Stimulus Package
The latest stimulus package – signed into law Thursday by the Biden Administration – is built to boost the middle class and low-income Americans, the goal being of course to speed up economic recovery.
By Scott Keegan, Associate Wealth Advisor An old school friend recently took a financial advisor job with a large broker-dealer that toted itself on financial planning. He soon learned that his job was to try and sell life insurance to his friends and family. His pay after six months was 10 …
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