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Many parents own houses and may want to pass them on to their children at some point. A common thought is to just add the children’s names to the title of the house. While this might sound like a simple solution, it’s usually not a good idea. At a minimum, it risks causing tax problems […]
Section 529 plans (named after the IRS Code Section) allow individuals to set up an account on behalf of another individual (typically a child or grandchild) that can be used to pay college expenses. A recent law change has also allowed up to $10,000 to be used for tuition expenses for elementary and secondary public, […]
You can open different kinds of IRAs with a variety of organizations. You can open an IRA at a bank or other financial institution or with a mutual fund or life insurance company. You can also open an IRA through your stockbroker. Any IRA must meet Internal Revenue Code requirements, which are listed below for […]
One of the ways our firm provides the best service to clients is through partnerships with other providers. Today, I want to introduce you to Divvy, our financial technology partner. Divvy is a spend and expense management platform for business. That means you get financial software fused with smart corporate credit cards, bill pay functionality, […]