Tax Cuts and Jobs Act Has Changed 529s

The Tax Cuts and Jobs Act, characterized as the first major reform of the Internal Revenue Code in 31 years, brings a lot of changes to individuals and businesses alike. The legislation slashes the top corporate tax rate to 21 percent, lowers the top marginal rate for individual taxpayers to 37 percent, eliminates or scales back several popular deductions, reduces taxes on business income earned by pass-through businesses, doubles the estate tax exemption, and substantially enhances immediate expensing of capital investments. It also impacts how families save for college—especially with respect to 529 plans. But there are some details still being worked out.

Stop Procrastinating About Financial Planning

Some things to think about as you get started with your strategy.

First, look at your expenses and your debt. Review your core living expenses (such as a mortgage payment, car payment, etc.). Can any core expenses be reduced? Investing aside, you position yourself to gain ground financially when income rises, debt shrinks, and expenses decrease or stabilize.  

Wealth Management with Memory Disorders

What steps can a family take?

Besides impacting lives and relationships, dementia can also impact family finances. It may call for another family member to assume money management responsibilities for a parent, grandparent, or sibling. It may increase the risk of financial exploitation, even as we do our best to guard against it.

Watch Our Video: The Importance of Setting Financial Goals

These are the obstacles we all face in trying to achieve our financial goals:


6 Things to Know About College

April is the month that high school seniors across the country must commit to the college of their choice.  I (Tim) know this well as we have a high school senior who just committed to DePaul University (Go Blue Demons!).  While these seniors and their families are typically excited about the prospect of the student going to college, the financial implications of this decision are sig

Syndicate content
Website Design For Financial Services Professionals | Copyright 2019 All rights reserved