December 31 is just around the corner. Here is a little secret that may be able to save you tax dollars in 2006 and 2007, ONLY! Any IRS required distributions from your 701/2 MRD (minimum required distributions form IRA’s and other tax favored accounts), that you gift to charity, will not be included in your taxable income. This is available and must be completed before December 31, so please contact us with your interest.

NOW, for the other great tax savings! I have great news regarding gifts for the “Kiddies, Grand Kiddies and even the Great Grand kiddies, for the holidays! These gifts are more valuable than anything that you can buy, in any store. GIFTS OF EDUCATION!
Because the Pension Protection Act has extended the 2010 sunset provisions, the College 529 gifts will continue to be tax free!

This is an extremely significant development in planning, because you now have the certainty of knowing that qualified expenses will not be subject to federal income tax! In light of this development, more exciting news is here!!

PENNSYLVANIA has also made the college 529 STATE TAX FREE, so more dollars stay in your pocket. So, you can pay yourself, while you give to your loved ones.

Control and Flexibility the owner, not the beneficiary, retains control of the assets and flexibility of their beneficiaries, and there are not complications or costs, worrying to change or set up expensive trusts and attorney fees.

Estate gifting benefits- contributions of $12,000 per person to each beneficiary can be gifted and not incur a federal gift tax, and up to five years worth of contributions can be made at one time. Transfer of gifts for estate planning purposes is very important for five year look back.

There are many different investment options and can be specifically modeled to your specifications.

There are various fees and expenses associated with any 529 or TAP credits. These and other features vary among plans! You should review the offering document carefully for complete details and talk about these during our time together.
Brenda 215 491 4346

We work with many different 529 providers and can help you select an appropriate plan for your individual situation. Please contact Brenda to discuss how you can help your family and wallet with the gift of giving.