Independent Financial Planning Blog
So your company offers an ESOP huh? Well, that’s nice, but what even is an ESOP? And what does it mean for your financial plan? We’ll get into more detail later, but for now, I like to think of ESOPs like coffee sweetener to a good cup of retirement plan coffee. While it’s not needed for your retirement plan, it can add a wonderful sugary boost. But you don’t want too much sugar in your coffee, or you’ll get sick. So first, let’s talk about the basics.
Understanding Medicare is important because you want to confidently step into your golden year’s health insurance decision. A good decision starts with understanding. See our “Medicare - at a Glance” poster. Short and sweet but packed with details useful for your financial plan. Click here. Please note that deductible and out of pocket maximum numbers are for 2022.
Don looked at his granddaughter, Lori. “What do taxes and death have in common?”
Pausing with a smile that only her grandfather could put on her face. Lori rolled her eyes. “What grandpa?” she asked. Her grandfather liked to ask those grandfather-like questions. They always had an air of joking wisdom.
It’s the end of May and since Section 529 of Title 26 of the US Tax Code allows for “qualified tuition programs” the commonwealth of Virginia’s 529 program likes to celebrate and advertise their college savings plans. This year’s benefit: essentially a one-time match! If you open a new account before the end of May(!); set up a recurring debit which has at least 1 contribution and have $50 in the account prior to the end of August, Virginia 529 will make a $50 contribution in your account.
The equity market environment has undoubtedly changed. Prior to the volatility the markets have experienced starting Friday, February the 2nd, we were setting records for the length of a bull market with low volatility. We were seeing the one of the best starts to the year for stocks until something changed, so what was it?
The new tax bill has 5 key changes that taxpayers can expect as a result of this new bill, including:
Changes to the personal tax code
Impacts on business owners and the introduction of the pass-through deduction
The ability to utilize a 529 Plan to pay for private elementary and secondary education
The doubling of the estate tax exemption
Read on to learn more.
Independent Financial Planning, LLC is a Virginia registered investment advisor.
