Ted Parrish, CFA, and Senior Research Analyst Troy Harmon explain how the “New Normal” is really the old, pre-housing bubble normal and how the negative market commentators have ignored positive earnings news.
Beginning in 2011, Education Savings Account contributions will be capped at $500 per year per child, and expenses for primary education will not be considered qualified expenses. For more changes to these accounts and recommendations on what you can do with funds in an ESA, read this Financial Strategy.
A Qualified Personal Residence Trust can be used as part of your overall estate plan to transfer the family home to your children or grandchildren, without incurring federal estate tax. However, there are some tax considerations for your heirs if they choose to sell the property in the future. For more information on Qualified Personal Residence Trusts, read this C.P.A. Insight.