Custodial Accounts for
Children - Transferring funds to children with UGMA or UTMA
accounts serves many purposes. Children can learn about finances and there
may be some tax advantages. However, ultimately the children take control of
the assets.
The Kiddie Tax or How Children Are
Taxed - Children are taxpayers just like adults, almost. This
article explains how the IRS provides some tax breaks for children and how
they prevent some parents from reducing the overall level of family tax.
College Funding
Options - The 2001 Tax Law made several changes in ways to save
for college costs. The changes were all good. If funding a college education
for a child, or grandchild, is in your future, you should be aware of these
changes.
Saving Early for a
College Education - Starting early to save for a child's college
education makes the process easier. College costs are continuing to rise
faster than the general inflation rate. That's why taking steps now can
enable your child to attend the college of choice.
Investing College
Funds - Learn how a changing mix of equity and fixed income
investments can help you take advantage of the historical higher returns of
equities and have the funds available for college costs.
IRAs for Teens - Many
teenagers have income from summer or part-time jobs. Establishing a Roth
Individual Retirement Account may be the beginning of a secure financial
foundation. It can also help the teen develop some good savings habits.
Guidelines for First Time
Credit Card Users - Getting a first credit card can be
intimidating and tempting. This article reviews some of the decisions credit
card users should make and offers some guidelines for the prudent use of this
financial convenience.
