Explore the fascinating world of education savings with insights on 529 plans, UTMAs, and HSAs. Discover the tax benefits of overfunding educational accounts and the nuances of tax gain harvesting. The discussion also dives into changing your defined benefit plan administrator if dissatisfaction arises. Plus, reflect on the balance between financial strategies and life enjoyment, as well as the importance of active financial management to avoid stagnation. Tune in for valuable advice on maximizing your financial literacy!
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Spending Principal
Consider spending some principal, not just investment income.
You don't get out of here alive, enjoy your wealth.
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Corporate Transparency Act
Register LLCs/corporations with FinCEN due to the Corporate Transparency Act.
This is mandatory, with penalties for non-compliance.
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5500-EZ Filing
File Form 5500-EZ if you have a solo 401(k) meeting specific criteria.
Penalties for non-filing can be severe.
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Today Dr. Dahle Dr. Dahle is answering your questions off the speakpipe. We talk about dynasty 529s, UTMAs and the tax benefits of contributing to them, we explain tax gain harvesting and I Bonds within a 529. We answer a question about HSAs and discuss how to go about changing you defined benefit plan administrator if you are not happy with them.
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