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Explore: How Can Military Veterans Benefit From the New VET TEC Program?

How Can Military Veterans Benefit From the New VET TEC Program?

How Can Military Veterans Benefit From the New VET TEC Program?

If you’re a military veteran, you may be eligible for a new five-year pilot program from the Department of Veterans Affairs (VA) that covers the cost of technology classes and training to help you start or advance a career in information technology (IT).

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How Does Your Employer’s Retirement Plan Compare?

How Does Your Employer's Retirement Plan Compare?

Each year, the Plan Sponsor Council of America (PSCA) surveys employers to gauge trends in retirement plan features and participation. Results are used by employers and plan participants to benchmark their plans against overall averages. How does your plan compare to the most recent survey results, released at the end of 2018?1

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Nine Things a Business Owner Should Know After Tax Reform

Nine Things a Business Owner Should Know After Tax Reform

As a business owner, you should be aware of some recent federal tax legislation changes. Many of the changes can affect the bottom line for the business as well as you as the business owner — some in a good way and some in a bad way.

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Rules on Opening a 529 Plan Account for College

Rules on Opening a 529 Plan Account for College

Year over year, participation in 529 plans continues to rise.1 Anyone can open an account, lifetime contribution limits are typically over $300,000, and there are tax benefits if the funds are used for college. Here are some common questions on opening an account.

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Key Retirement and Tax Numbers for 2019

Key Retirement and Tax Numbers for 2019

Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2019.

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Reviewing Your Estate Plan

Reviewing Your Estate Plan

An estate plan is a map that explains how you want your personal and financial affairs to be handled in the event of your incapacity or death. Due to its importance and because circumstances change over time, you should periodically review your estate plan and update it as needed.

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ABLE Accounts After Tax Reform

ABLE Accounts After Tax Reform

Recent federal tax reform legislation has added several favorable new tax provisions for ABLE (Achieving a Better Life Experience) accounts. ABLE accounts are tax-advantaged savings accounts for individuals with disabilities that are typically used to cover qualified disability expenses. Generally, an ABLE account is disregarded for purposes of determining eligibility for, and the amount of, any assistance or benefit provided under certain means-tested federal programs.

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What Are the Gift and Estate Tax Rules After Tax Reform?

Estate

The Tax Cuts and Jobs Act, signed into law in December 2017, approximately doubled the federal gift and estate tax basic exclusion amount to $11.18 million in 2018 (adjusted for inflation in later years). After 2025, the exclusion is scheduled to revert to its pre-2018 level and be cut approximately in half. Otherwise, federal gift and estate taxes remain the same.

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529 Plan Changes in 2018

529

Established in 1996, 529 plans were designed to encourage tax efficient saving for future college expenses. The Tax Cut and Jobs Act of 2017 expanded how these plans can be used and now allows them to cover up to $10,000 per year, per child for primary and secondary education at private institutions.

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