When to Start Saving for Your Child’s College Education

When to Start Saving for Your Child’s College Education

Saving for a child’s future education costs is a high priority for many families. With college costs continuing to increase, creating an education savings plan can be complex and challenging. After prioritizing your financial goals and ensuring you are on...
Itemized Deductions vs. the Standard Deduction

Itemized Deductions vs. the Standard Deduction

The new tax reform, which was signed into law in December, will present an interesting question going forward for many taxpayers: should you itemize deductions when you prepare your tax return or claim the standard deduction? Standard Deduction Increased...
How Tax Reform Affects the Kiddie Tax

How Tax Reform Affects the Kiddie Tax

For years, many parents and grandparents have used Uniform Gifts to Minors Accounts (UGMAs) and Uniform Transfers to Minors Accounts (UTMAs) to save money in their child’s or grandchild’s name. These funds can then be used to help pay for future college...
Tax-Wise Charitable Giving: Donating Appreciated Assets

Tax-Wise Charitable Giving: Donating Appreciated Assets

Due to the tax reform legislation that was signed into law in December, there was an emphasis among some to make charitable gifts before the end of the year. This is because the standard deduction has been doubled, so fewer households will be utilizing...
Tax Reform’s Impact on 529 Savings Plans

Tax Reform’s Impact on 529 Savings Plans

Since they were first established in 1996, Section 529 college savings plans have become a popular tool used by parents to save for future college expenses. Families have established nearly 13 million such plans over the past two decades, and assets in these...
2018 Tax Planning: How Tax Reform Impacts You

2018 Tax Planning: How Tax Reform Impacts You

The new tax act, which was signed into law by President Trump on December 22, is the most comprehensive reform of the U.S. tax code in more than 30 years. The passage of the tax reform act will have a significant impact on the tax strategies of many...
Make Some Financial Resolutions for the New Year

Make Some Financial Resolutions for the New Year

This is the time when many people make resolutions for the upcoming year. Determining to lose weight, eat healthier or exercise more are some of the most common New Year’s resolutions. But last year, financially-related New Year’s resolutions also...
What the Tax Reform Act May Mean to You

What the Tax Reform Act May Mean to You

On December 20, Congress passed the new tax plan, the most sweeping reform of our nation’s tax code in more than three decades. This legislation will impact the tax situation of almost every U.S. family, individual and business. Following is a recap of the...
The Tax Benefits of Charitable Giving

The Tax Benefits of Charitable Giving

With the holidays approaching, charitable giving is top of mind for many people. In addition to helping those who are less fortunate, you may also be able to reap valuable tax benefits by giving money and assets to qualified charities. Here are some steps...


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