As Health Savings Accounts (HSA) become more available to employees, it’s time to make sure you understand the benefits of these accounts. More than 40% of American workers are enrolled in a high-deductible health plan which gives employees access to an HSA. The Health Savings Accounts has these main attributes: Pre-tax contributions (up to the […]
There’s a lot to consider when making charitable donations. Of course, you want to maximize the positive impact to the charity, however, it’s also important to make sure you’re proceeding in a way that makes the most sense for you, your family, and your situation. You may want a vehicle that emphasizes immediate donor tax […]
College may seem like a long way off when your child is first born, but saving early and smartly are essential to easing that future financial burden, which according to U.S. News data, was an average $35,676 per year for private colleges during the 2018-2019 school year.1 It’s no secret college costs continue to […]
Ever find yourself saying something over-and-over again to the point you wonder If you are speaking solely to yourself then FINALLY hear someone else say it? Makes you feel pretty elated doesn’t it! We certainly felt that way when we came across this great article in Fidelity Viewpoints. We are always telling our clients to […]
The Mega Millions and Powerball Jackpots are growing! How can you avoid ending up on a television show about how the Lottery ruined your life? 1. Don’t play the Lottery. It’s a waste of your money. The odds are greater that you’ll be killed by a shark or struck by an object falling from the […]
Many owners of family businesses are so busy running their companies that they never get around to making formal arrangements to pass on the business to the next generation or to other partners. But a failure to prepare for having to hand over the reins of your company—especially in the case of an unexpected illness […]
Talk about planning for the future! October 1 kicked off financial aid season with the release of the 2019-2020 Free Application for Federal Student Aid (FAFSA). The FAFSA is the form that directs a student’s access to all forms of financial aid at most colleges and universities across the country. It utilizes student and parent […]
A 529 plan is a college savings plan offering tax and financial aid benefits for qualified educational expenses (https://www.irs.gov/credits-deductions/individuals/qualified-ed-expenses). Each parent and other relatives can contribute up to $15,000 per child, per year to a 529 account without reporting the contribution to the IRS. A 529 account can also be “superfunded” with contributions of $75,000 […]
In the midst of your summer fun, taking time for a midyear tax checkup could yield rewards long after your vacation photos are buried deep in Facebook. Personal and financial events, such as getting married, sending a child off to college, or retiring, happen throughout the year and can have a big impact on […]
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