Planning to make a large cash gift for high school graduation? Consider paying some college tuition
With commencement ceremonies for high school seniors coming up, many parents and grandparents are contemplating making cash gifts the student can use for college expenses. But if gift and estate taxes are a concern, consider a potentially more tax-efficient gift: paying some of the child’s college tuition. Cash gifts to an individual generally are subject…
Tips to Help You Lead with Confidence
Confidence is crucial when it comes to being a leader. However, self-assurance doesn’t come naturally for many. It takes time to accept and fine tune your skills, strengths and abilities. Don’t let self-doubt prevent you from taking the steps necessary to improve your competence and capabilities. Below are three tips to help this become a…
Why 2013 may be the year to make that car or boat purchase you’ve been thinking about
For the last several years, taxpayers have been allowed to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes. The American Taxpayer Relief Act of 2012 has extended this break — but only through 2013. The break can be valuable to those residing in states with…
Consider These Tips When Paying for Child’s Education
There are tons of things you can do to help pay for your college education. However, many of the options result in a large debt pileup. Instead of taking out all the loans you can get your hands on, consider these money saving tips: When shopping for school, get past the sticker price. If the…
Alternative-asset IRAs: Handle with care
Most IRA owners invest their funds in traditional assets, such as stocks, bonds and mutual funds. But some intrepid investors have enjoyed impressive, tax-deferred returns — or even tax-free returns in the case of a Roth IRA — by using their IRAs to hold rental real estate, business interests or other alternative assets. Despite the…
How to Protect Personal Assets from Business Liabilities
One of the most challenging aspects of owning a business is understanding how to manage your personal assets. Many small business owners get taken advantage of with high-priced asset protection plans, expensive insurance or a lawsuit due to an accident that isn’t their fault. Below are four ways to safeguard your personal wealth from the…
Be prepared for the health care act’s “play or pay” provision
The Patient Protection and Affordable Care Act of 2010’s shared responsibility provision, commonly referred to as “play or pay,” is scheduled to take effect Jan. 1, 2014. It doesn’t require employers to provide health care coverage, but it in some cases imposes penalties on larger employers that don’t offer coverage or that provide coverage that…
Tips to Protect Yourself from Financial Fraud
Financial fraud is more common than ever. Sadly, even some of the most prestigious financial advisers have been convicted of fraudulent activity over the past few years. Although there’s no guarantee to protect yourself against fraud, there are several things you can do to help reduce your risk: Insist on a third-party custodian. If your…