As we reported in our last article, the net price of higher education will depend on the amount of financial aid that’s received. The greater the financial aid, the lower the net cost of college. In order to obtain financial aid, a key step is filling out the Free...
The College Board reports that full-time students at in-state public schools typically paid almost $20,000 for tuition, fees, and room and board during the 2015-2016 academic year. On average, students at private institutions typically paid almost $44,000 for tuition,...
In 2015, a tax break valued by many charitably inclined retirees was made permanent: the qualified charitable distribution. If you are age 70½ or older, you can make direct contributions of up to $100,000 annually from your IRA to qualified charitable organizations...
One question that is regularly asked by clients is whether they should invest in their company’s retirement plan or pay off high interest loans, such as credit card debt. To answer, you must evaluate your rate of return on your cash outlay. Are you giving up free...
It’s common for parents, grandparents and others to make gifts to minors and college students. Perhaps you want to help fund education expenses or simply remove assets from your taxable estate. Or maybe you’re hoping to shift income into a lower tax bracket. Whatever...
Many grandparents would like to help their grandchildren with the steep costs of higher education. That’s often a laudable goal, but some methods of providing this assistance might be more effective than other tactics. Gifting aid for college costs The simplest tactic...
Are you thinking about turning an upcoming business trip into a family vacation this summer? This can be a great way to fund a portion of your vacation costs. But if you’re not careful, you could lose the tax benefits of business travel. Reasonable and necessary...
This year’s stock market volatility can be unnerving, but if you have a traditional IRA, this volatility may provide a valuable opportunity: It can allow you to convert your traditional IRA to a Roth IRA at a lower tax cost. The Traditional IRA Contributions to a...
If estate taxes are a concern and you’re looking for a way to benefit charity while transferring assets to loved ones, consider a charitable lead trust (CLT). But you may want to act soon: CLTs save the most tax when interest rates are low, like they are now, and...
You may think that your estate plan should include a will in order to handle the disposition of your assets. That's true: if you die "intestate," meaning without a will, some or all of your assets probably will be distributed according to state law. In reality,...
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