For many early 20-somethings that are freshly graduated and are now facing credit card and loan bills, the last thing on their mind is investments.
The Trump administration’s new tax reform bill was signed into law in December of 2017, representing the first major tax change in over 30 years. The changes are significant and are likely to affect nearly everyone in some measure; some positively, while others may find themselves with a higher tax bill in 2018.
Started in 1996, 529 plans provide tax incentives for those saving for post-secondary education. The plan allows funds saved to be used at any eligible education institution, which typically includes colleges, universities, vocational schools or any post-secondary educational institute that is currently eligible to participate in U.S. Department of Education student aid programs.
Another massive data breach has reminded us how vulnerable we are to cyber attacks. Credit monitoring company Equifax announced that a “Cybersecurity Incident” had exposed names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license and credit card numbers, from a whopping 143 million Americans.
As the saying goes there are two things that are inevitable: death and taxes. And, out of those two sure things, you can only really plan for your taxes. It should be no surprise when tax season surely and steadily rolls around again, yet every year there are plenty of individuals who file for a tax extension (in 2014 there were approximately 12 million Americans who did so).