A tax-advantaged investment account designed to encourage savings to cover future education expenses (elementary, secondary or college), such as tuition, books, uniforms, etc.
Earnings in 529 plans are not subject to federal tax and in most cases state tax, as long as you use withdrawals for eligible college expenses, such as tuition and room and board. However, if you withdraw money from a 529 plan and do not use it on an eligible college expense, you generally will be subject to income tax and an additional 10% federal tax penalty on earnings. As with other investments, there are generally fees and expenses associated with participation in a 529 plan. There is also a risk that these plans may lose money or not perform well enough to cover college costs as anticipated. Most states offer their own 529 programs, which may provide advantages and benefits exclusively for their residents. Investors should consider, before investing, whether the investor's or the designated beneficiary's home state offers any tax or other benefits that are only available for investment in such state's 529 college savings plan. Such benefits include financial aid, scholarship funds, and protection from creditors. The tax implications can vary significantly from state to state.
Employee Attraction & Retention:
Process of determining and implementing an appropriate benefits package to attract and retain key employees; making yourself competitive in the marketplace.
A service whereby the advisors at The Sytsma Group coordinate with your other trusted advisors to verify your financial planning and estate documents continue to be relevant over time. We also act as a trusted advisor for loved ones at time of estate distribution.*
*Available through Raymond James Trust, and affiliate of Raymond James Financial Services, Inc.
The process of anticipating and arranging for the distribution of personal and business assets. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses.
The management of various securities (stocks, bonds and other securities) based upon your investment objectives and risk tolerance.
Retirement Income Analysis:
The process of gathering and analyzing data to determine how much income you can expect to receive in retirement.
Retirement Spending Policy:
Determining a rate of withdrawal from your retirement funds while taking into consideration how long your assets need to last.
Spending / Saving Analysis:
The process of analyzing household in-flows and out-flows of cash, existing debt and financial goals to determine an overall Spending/Saving strategy.
The use of insurance and other strategies in an effort to minimize an organization’s or family’s exposure to liability in the event a loss or injury occurs.
Specifically, business succession planning is the process of preparing to hand over control of the business to others in a way that is the least disruptive to the business’s operations and value.
Logical analysis of a financial situation or plan from a tax perspective to align financial goals with tax efficiency planning.
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Raymond James financial advisors do not provide legal, or tax advice. You should consult your legal and/or tax advisors before making any financial decisions. Investing involves risk including the possible loss of capital. Account withdrawals beyond earnings will result in reduction of your principal.