This article covers the pros and cons of 529 college savings plans which are education savings plans operated by a state designed to help fund education.
Pros and Cons of 529 College Savings Plans
Industry: High Net Worth Individuals
Preparing to be an Executor
The role of an executor can be extremely time consuming and stressful. However, there are steps that can be taken now, while your friend or loved one is still living, that can reduce the stress and complications that come with the job. This article covers 9 steps.
Section 199A Rental Real Estate Activity Safe Harbor
The taxation of passthrough income was among the many areas… Read more »
Section 1031 Like-Kind Exchanges under the TCJA
The TCJA didn’t eliminate like-kind exchanges; however, it did eliminate tax-deferred like-kind exchange treatment for exchanges of personal property after December 31, 2017.
What Does the New Qualified Business Income Deduction Mean for You?
To maintain the incentive for individuals to own and operate a pass-through entity, the Act introduced the new Section 199A Qualified Business Income Deduction.
State Income Taxes for the Investor – One Size Does Not Fit All
Do you know the state income tax implications of the… Read more »
Irrevocable Life Insurance Trusts: Administration Checklist
An Irrevocable Life Insurance Trust (“ILIT”) is a trust that can be used to minimize estate taxes by moving the proceeds of life insurance policies outside of your taxable estate. This article provides a general overview of ILIT funding and administration requirements.
Custodial Roth IRAs and the Magic of Compound Interest
A custodial Roth IRA is a retirement savings account funded with post-tax dollars for individuals under the age of 18.
Qualified Appraisal: Protecting Your Charitable Deduction
Your entire charitable deduction hinges on meeting the tax filing requirements including timely meeting the Qualified Appraisal requirement. This article covers the basic concepts.
Private Foundations: Avoiding Prohibited Transactions
Private foundations allow families to maintain direct control over the foundation’s investments and charitable activities. This article discusses five transactions private foundations should avoid.