Short On Time? Here’s a Quick Summary: 529 plan funds can be used for a variety of educational expenses, including higher education, vocational or trade schools, and K-12 tuition at public, private, or religious institutions. Qualified expenses include tuition, housing,... Read More
Short On Time? Here’s a Quick Summary: The Alternative Minimum Tax (AMT) is a separate tax system designed to ensure that high-income earners pay a minimum level of taxes, with more restrictive deduction rules than the traditional tax system. Due... Read More
Short On Time? Here’s a Quick Summary: Setting Clear Goals and Planning: Just as Olympians set specific, measurable goals and follow detailed training regimens, high-net-worth families should define clear financial objectives and develop comprehensive financial plans with the help of... Read More
Each year the Internal Revenue Service (IRS) evaluates its limitations for employer-sponsored retirement plans (401(k), 403(b), 457, TSP, etc.), individual retirement accounts (IRA), Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), dependent care accounts, and payroll taxes for Social Security,... Read More
It’s natural to wonder exactly how a bank safeguards your money. Fortunately, the Federal Deposit Insurance Corporation (FDIC) insurance exists for this very reason: to help protect your funds once deposited. Read on to explore the purpose of FDIC... Read More
Each year the Internal Revenue Service (IRS) evaluates its limitations for employer-sponsored retirement plans (401(k), 403(b), 457, TSP, etc.), individual retirement accounts (IRA), Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), dependent care accounts, and payroll taxes for Social Security,... Read More
The term “diversification” is often heard but not always fully understood. Proper diversification of investments can help investors minimize risk and volatility in their portfolio, while maximizing returns. Diversification is more than avoiding too many eggs in one basket. Rather,... Read More
Each year the Internal Revenue Service (IRS) evaluates its limitations for employer-sponsored retirement plans (401(k), 403(b), 457, TSP, etc..), individual retirement accounts (IRA), Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), dependent care accounts, and payroll taxes for Social Security,... Read More
What is a cash balance plan? A cash balance plan is a type of retirement plan commonly referred to as a hybrid plan since it is a defined benefit plan (i.e., pension) that looks and operates like a defined contribution... Read More
U.S. citizens currently hold more than $12 trillion in individual retirement accounts (IRAs). A large portion of that IRA money will be spent by account holders during their retirement, but a sizable portion will be inherited by beneficiaries in the... Read More