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Dustin Rinaldi on tax changes: 529 plans

Dustin Rinaldi on tax changes: 529 plans

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Thanks to the Tax Cuts and Jobs Act of 2017, Section 529 plan savings may now be used for K-12 tuition as well as for higher education costs. Over 20 years ago, federal lawmakers authorized states to create tax-exempt “qualified tuition programs” — Section 529 plans — to help taxpayers fund the cost of higher education. The Tax Cuts and Jobs Act of 2017 expands Section 529 by allowing tax-free account withdrawals not only for qualified higher education expenses but…

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Dustin Rinaldi Shares Red Flags that Could Alert the IRS

Dustin Rinaldi Shares Red Flags that Could Alert the IRS

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The IRS audited approximately 1.4 million individual tax returns filed in 2012.1 That amounts to approximately 1% of 146 million individual returns filed that year. However, fewer than one-quarter of those audits involved face-to-face meetings with IRS auditors. The rest were conducted through the mail. Filers earning less than $100,000 had a .58% chance of being audited. Among filers with income exceeding $200,000, the audit rate was 2.06%; for those earning more than $1 million, it climbed to 9.20%. Audit…

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Dustin Rinaldi’s Steps to Keep Retirement Income Flowing

Dustin Rinaldi’s Steps to Keep Retirement Income Flowing

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After years of accumulating assets, the time will come for you to begin drawing on those assets to provide income throughout retirement. Before that day arrives, be sure to consider some steps to assist you in keeping your retirement income stream flowing. Set a Sustainable Withdrawal Rate As tax-advantaged retirement savings vehicles such as 401(k)s and IRAs have proliferated, so too has the trend toward self-funding of retirement. In the future, the share of personal assets required to fund retirement…

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Dustin Rinaldi Shares 10 Investment Mistakes You Should Avoid

Dustin Rinaldi Shares 10 Investment Mistakes You Should Avoid

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Who needs a pyramid scheme or a crooked money manager when you can lose money in the stock market all by yourself. If you want to help curb your loss potential, avoid these 10 strategies. 1. Go with the herd. If everyone else is buying it, it must be good, right? Wrong. Investors tend to do what everyone else is doing and are overly optimistic when the market goes up and overly pessimistic when the market goes down. For instance,…

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Planning for Your Long-Term Care from Dustin Rinaldi

Planning for Your Long-Term Care from Dustin Rinaldi

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According to the U.S. Department of Health and Human Services, 70% of people turning 65 can expect to use some form of long-term care during their lives. But less than one-third of Americans who are 50 or older have begun saving for long-term care. Long-term care includes a range of personal daily living services. Most long-term care isn’t related to medical care, but rather assistance with daily bathing, dressing, using the toilet or eating. Other types of long-term support include…

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Dustin Rinaldi Shares Tips on Surviving Market Turbulence

Dustin Rinaldi Shares Tips on Surviving Market Turbulence

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Most stock market investors are looking for the same result: strong and steady gains of their investments. Dealing with a period of sustained falling stock prices is not easy. All too often, investors react to a sharp drop in prices by panic selling or digging in their heels despite deteriorating fundamentals. But more thoughtful investors see a correction or downturn as an opportunity to review the risks in their portfolios and make adjustments where necessary. When confronted with any adverse…

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