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by Gene Walden
Another school year has passed and your children or grandchildren are that much closer to college. If you haven’t already started to save for their college costs, this may be a good time to talk to your advisor about setting up a tax-sheltered college savings plan.
By planning ahead, you can use a 529 college savings plan to give your children a head start on their college costs. There are two types of 529 plans: college savings plans and prepaid tuition plans.
College savings plans are state sponsored investment accounts that allow participants to contribute regularly. A 529 plan account grows tax-deferred and withdrawals from the plan for qualified educational expenses are exempt from federal income tax. There are no income limits.
Tax-advantaged plan contribution limits can vary from state to state. But the key to all of the plans is your ability to set aside money for college that can grow tax-free... MORE |
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Financial Planning:
College Funding
If you are beginning to plan for future college expenses or if your child will be starting school this fall, here are some thoughts for your consideration. Start planning as early as possible... MORE |
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Tax Planning:
Don’t Be “Washed Out”
If you decide to sell a stock and the result is a realized loss, you may want to review the wash sales rules to ensure that you do not lose the deduction attributed to your loss on the... MORE |
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Mortgage Tips:
Home Financing Techniques
Financing your home can feel overwhelming. Consider this: The best way to buy and finance a home is to arrange the mortgage first. Once you are confident that you have been... MORE
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Insurance Insights:
Credit Scores
As far-reaching as credit scores have become, it is still difficult to believe that your credit score can have a significant impact on auto and home insurance fees. It is called an insurance... MORE |
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Investment Management Updates:
What Does a Weaker Dollar Mean to You?
The weaker U.S. dollar has become common conversation in recent months. A simple generalization is that “strong” is good, and “weak” is bad. So should we believe that a weaker dollar... MORE
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Thoughts from Bruce Helmer:
Marriage and Finances
When one partner manages the finances, without regular updating, what happens if there is an illness or death? You not only probably have bills associated with that tragedy, but you may... MORE |
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Sudoku Puzzle:
When you play sudoku you qualify to win a FREE $25 Gift Card for any participating T.G.I. Friday’s restaurant. This month's puzzle... MORE |
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Upcoming Events:
As most of you know, one of our main goals is to educate our clients and our community. We look forward to seeing you at an upcoming seminar... MORE |
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Iowa: West Des Moines – North Dakota: Fargo |
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