Introducing the Beanblog

  • Chris Bean

Rights of Passage

The 2 vital signatures you need from your graduate.

Remember your college years? The highlights, triumphs and life lessons – as well as the pranks, close calls, and times you needed rescue? College is for learning – and learning how to be an adult. The difference between your generation and your high school graduate’s is that the age of in loco parentis – where your school took the place of your parents – is over.

Today, schools “are not responsible for monitoring and controlling all aspects of their students’ lives,” per a landmark court case that ended this May, filed by parents who had not been informed their child was depressed and suicidal because MIT could not legally contact them. The absence of a single signature tied the school’s hands. Officials nationwide are constrained by FERPA (Family Educational Rights and Privacy Act) in reaching out to parents.

Tags: Legal

Continue reading

  • Created on .

Individual Retirement Accounts (IRAs)—the annual contribution limit for both traditional and Roth IRAs is $5,500 with a $1,000 catch-up contribution.

The SIMPLE—the annual contribution limit on SIMPLE retirement accounts for 2018 is $12,500. The SIMPLE catch-up limit is $3,000.

Tags: Taxes

Continue reading

  • Created on .

January 2016 ushered in a great tax savings opportunity for those who are 70 ½ or more years of age. That’s because 2016 is the year Congress finally gave permanent approval to the option of Qualified Charitable Distributions, or QCDs.

The Profile of a QCD Candidate

The only stipulations to participate in a QCD are that you are 70 ½ years of age or older, that you have a traditional Individual Retirement Account (IRA), and that you are willing to donate to an IRS-qualified charity.

Tags: Tax Management

Continue reading

  • Created on .
  • 1
  • 2
© 2018 Private Advisory Group
This email address is being protected from spambots. You need JavaScript enabled to view it.
Office: 425.498.2320
Text: 425.230.6669
16880 NE 79th St, Redmond, WA 98052