The SECURE 2.0 Act of 2022 Affects IRA, Charitable, and College Planning
A handful of critical provisions will affect our clients now or in the near future.
529 College Savings Plans
College tuition has historically increased a whopping 6% annually, which makes investing early for college so important. 529 plans are an excellent, tax-free way to save for higher education expenses. How Much to Contribute A contribution to a 529 account is considered a gift to the beneficiary. You can gift up to $17,000 to each […]
Tax Cuts and Jobs Act of 2017
This major tax reform will benefit corporations and the mega-wealthy beginning in 2018. For many individuals, the new law will add complexity. Many of the new provisions expire after December 31, 2025, at which time tax rules revert back to 2017 law. We’ve compiled a list of the provisions that will likely affect our individual clients. Stay tuned for new tax strategies that will emerge from these rules.
Smart Decisions for College Savings
Clients came to me for advice about saving for their children’s college education. They didn’t know why their prior advisor recommended they set up an UTMA account and a Section 529 college savings plan for each child. During our discovery process, the clients explained that they did not want their children to have access to […]
