Our Weekly Blog

A crucial benefit of flexibility was added to 529 savings accounts with the passing of SECURE 2.0 last month

Pulling together all of your tax documents can be a big task: property tax bills, mortgage interest statements, charitable donations, 1099s. If you had a lot going on last year, these documents can add up to a big stack. The best way to minimize this mountain is to be gathering these documents all year round.

Just like current FAFSA rules, the new FAFSA will still use information from the “prior, prior” year. This means if you are divorced or separated, you need to start planning two years prior, rather than one year prior to the FAFSA award year. For example, the 2023-24 FAFSA will use 2021 tax return information. The 2024-25 FAFSA will use 2022 tax return information. FAFSA SIMPLIFICATION ACT CHANGES

Throughout America, millions of tons of food and organic scraps are buried in landfills or burned in incinerators every year. At the same time, millions of acres of rich soil are being depleted by intensive farming.

If you sold those shares, you could be subject to long term capital gains taxes on the $9,000 gain. If you were in the 20% capital gains bracket, that would cost you $1,800 in taxes plus a potential additional 3.8% tax in certain tax brackets.