by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Jul 15, 2022 | Tax Planning
When a grandparent does estate planning, they often wish to provide for their grandchildren’s education. The grandparent may want to ensure that funds left for grandchildren are used to cover the expenses of college and nothing else. To achieve this result, a...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Jun 3, 2022 | Tax Planning
Business owners hire their children for several reasons, such as instilling a strong work ethic, teaching responsibility, encouraging entrepreneurship, saving on taxes, and helping save for college. These benefits are the result of the Tax Cuts and Jobs Act of 2018...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Jan 11, 2022 | Tax Planning
The Uniform Transfers To Minors Act (UTMA) is a law recommended by the National Conference of Commissioners on Uniform State Laws in 1986 and subsequently enacted by most U.S. states. It provides a mechanism under which gifts can be made to...
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