How to Avoid Tax Penalties on Your 529 Refund

Did you or your child receive a refund from college?  If so, that refund could be subject to taxation and a 10% penalty. https://www.youtube.com/watch?v=oJrH4WaZOvo The IRS could consider this refund as no longer being used for Qualifying Education Expenses.  This refund would then be recharacterized as a taxable distribution. In…

Tax time Q&A: Where’s your 1099?

After a year of impressive returns in a strengthening bull market, we know that our clients are eager to file their 2019 tax returns. Like past years, custodians including Charles Schwab, Fidelity, TD Ameritrade, and U.S. Bancorp will mail individuals who haven’t enrolled in paperless delivery their important tax documents.…

Common questions about 1099s

The IRS is officially accepting 2016 tax returns and our clients are anxious to settle up with good ol’ Uncle Sam. For the past few years, important tax documents regarding taxable withdrawals and realized gain and loss information have been mailed directly to investors from the account custodian (Charles Schwab,…

The season of giving…stocks?

At year end, individuals tend to look to minimize taxes through tax-loss selling or giving money to charity. However, gifting appreciated stocks to charity is an often-forgotten tactic that can fulfill your charitable inclination and benefit your tax bill. Any gift to a charity, (for most people) allows a tax…

 Estate Planning Myths and Tips

Register for Estate Planning Myths and Tips on Jul 21, 2020, 12:30