I’m sure you have heard some rumblings from family, friends or the news about the new “Trump” accounts for children. The technical term for these accounts is a 530A account as this is the specific section of the Internal Revenue Code that these accounts are written into the tax law as. These accounts are now live and available for parents to decide if they would like to open one up on behalf of their children. Before getting into this topic, I do have to emphasize that this

April 15th is commonly known as “tax day” and is a dreaded day for the average American. Parents are already juggling full time jobs, extra-curriculars for their children and everyday household tasks, making tax season even more stressful. To make matters worse, the tax law is nearly impossible to navigate and oftentimes difficult to understand. This leaves us feeling even more stressed about compiling our tax documents and ensuring that our tax returns are fair, complete and

As an adult, thinking about saving for our eventual retirement is daunting, but necessary. We open 401K or other pension plans through our employers and contribute a percentage of our income to them each year in hopes that they will continue to grow for us until we need it later on in life. Many of us do not even open one of these accounts until we have reached adulthood; however, what most people do not know is that if your child has any kind of earned active income, you can

Saving for our children’s futures is an intimidating topic. The cost of everything continues to rise year after year and if you are like me, you are constantly thinking of ways to put away more dollars into savings or investments. Fortunately for many of us, we are blessed to have family members that are willing to help us on our financial journeys. Grandparents, aunts, uncles, cousins, and other extended friends and family are often sending gifts for birthdays or Christmas t

Do you pay for child care or other qualifying dependent care so that you (and your spouse, if married) can work or look for work? If so, then a flexible spending account for dependent care could be a great option for your family to use pre-tax dollars to pay for your child care expenses. Many employers will offer a flexible spending account benefit to employees as a way to deduct pre-tax dollars directly from your pay check that can be used for qualifying dependent care costs

If you are a parent, saving for college is likely a hot topic amongst your family and friends. With the cost of higher education rising each year, many parents feel overwhelmed about the idea of having enough savings for their children to attend the university or trade school program of their choice. Let’s face it, this can be a really scary topic and cause anxiety for so many of us as we juggle full time jobs, raising our kids and covering the ever rising costs of our everyd