Investing in a 529 plan is a smart way to save for college expenses, offering tax advantages that help make funding education more affordable. However, there are many rules specific to 529 plan distributions that investors often overlook that can eliminate the tax advantages of the plan if not … [Read more...]
529 Plan Distribution Rules
Updating an Estate Plan
Reviewing your estate plan can be a daunting task, and it is easy to keep putting it off as something to be done in the future. However, it is extremely important that your estate plan is current, and now is the time to ensure your assets will be passed on to your beneficiaries at your … [Read more...]
Dormant 401(k)
When you leave a job, either to retire or to take a new job, and had participated in your company’s 401(k) retirement plan, you have multiple options available to you in regards to your 401(k) account. You could transfer your account into a new employer’s 401(k) plan, you could roll your account … [Read more...]
Reviewing Tax Returns While Retired
Reviewing tax returns can be a daunting task given the complexities of federal and state tax law and frequently changing rules. Monitoring your exposure to various taxes (e.g., ordinary income tax, capital gains tax, alternative minimum tax, net investment income tax, etc.), along with understanding … [Read more...]
Reviewing Tax Returns While Working
Reviewing tax returns can be a daunting task given the complexities of federal and state tax law and frequently changing rules. Monitoring your exposure to various taxes (e.g., ordinary income tax, capital gains tax, alternative minimum tax, net investment income tax, etc.), along with understanding … [Read more...]