Section 529 Prepaid Tuition Plans

One of the many ways to pay for a college education is a Section 529 Prepaid Tuition Plan. This plan allows you to lock in tuition at the current rate. One caveat to this plan is that it is considered a parental asset, causing a dollar-for-dollar reduction in financial aid eligibility. For a detailed comparison of the advantages and disadvantages of a prepaid tuition plan, read this Financial Strategy.

What is the Best Way to Buy a Car?

In order to enjoy that new car smell, you will likely have to make a decision on how to finance the purchase of that car. Preparing yourself by understanding your different finance options will benefit you in this process. For more information on comparing finance options offered by dealers, leasing companies or your local bank, read this Financial Strategy.

Little Known Tax Strategy Could Save Tax Dollars for Millions

If you are retiring and hold a significant amount of your company’s stock in your qualified retirement plan, you can choose to elect a special tax treatment for the distribution called net unrealized appreciation. Before you make this election, you’ll need to compare your tax liability on the distribution to future tax costs. For more information on this strategy, read this Financial Strategy.

Protecting IRA Accounts from Bankruptcy

If you’re faced with a bankruptcy situation, there are federal laws in place that protect your assets held inside qualified retirement plans such as a 401(k) or an IRA. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 extends some of these safeguards. For more information on how much is protected by these laws, read this Financial Strategy.

The Estate Tax

Everyone knows about death and taxes, and if your estate is large enough, sometimes they go hand in hand. Estate tax is the transfer of property from one individual to another at the time of death. For more information on how estate tax is derived and the deductions and credits available to reduce the gross estate, read this Financial Strategy.

Georgia’s 529 Plan—Path2College 529 Plan

Residents of Georgia are eligible for a state tax deduction for contributions to Georgia’s 529 College Savings Plan regardless of income. Because of this tax benefit, residents should consider this plan as a savings vehicle for higher education costs. For more information on Georgia’s plan and the seven available investment options, read this week’s Financial Strategy.

Georgia’s 529 Plan—Path2College 529 Plan

Residents of Georgia are eligible for a state tax deduction for contributions to Georgia’s 529 College Savings Plan regardless of income. Because of this tax benefit, residents should consider this plan as a savings vehicle for higher education costs. For more information on Georgia’s plan and the seven available investment options, read this week’s Financial Strategy.