Blog/Newsletter

529 Education Savings Accounts and Grandparents

529 education savings accountsGrandparents often want to assist their grandchild with college. But they don’t know the best ways to help. In this brief video, Jim Mailliard talks about grandparents and 529 education savings accounts.

These investment vehicles are state-sponsored college savings plans. They invest money on behalf of participants, much like mutual funds invest shareholder money. Earnings grow tax-deferred, and withdrawals can be used for a variety of qualified education expenses.

 

By |2019-08-14T13:59:43-07:00November 12th, 2019|Advisors, College Planning, Video Blog|

Deductions Versus Credits

tax deductions versus creditsThe last quarter of the year is upon us, and that means it’s time to think about end-of-year tax planning. Income tax deductions and credits both reduce your tax bill, but it in different ways. Knowing the difference between deductions versus credits can help you maximize your savings.

Tax deductions: These are specific expenses you’ve incurred (e.g. health insurance, business charges, charitable gifts) that you can subtract from your income before calculating your taxes. Depending on your situation, it may be more beneficial to take a standard deduction than to itemize your expenses. Talk with your financial planner or tax advisor if you’re not sure.

Tax credits: These give you a dollar-for-dollar reduction in your tax bill. That means a tax credit valued at $1,000 actually lowers your tax bill by $1,000. A few examples include education, energy and dependent care credits. Next month, we’ll go into more detail about specific tax credits that may be available to you.

Click here to read more detail on deductions and credits at the official IRS website.

To read other Perspective Financial articles on tax planning, click here.

By |2019-10-15T12:18:38-07:00November 4th, 2019|Taxes|

Empowering Young Adults with Autism

SEEDs for Autism provides a path “from learning to earning” by empowering young adults with autism. The program has been a blessing for my family, and I am so proud that our firm is able to sponsor its inaugural Discovery Day event. (Scroll down to see event details!)

Empowering young adults with autism

Jake McCann works for the Arizona Diamondbacks.

The program teaches vocational job-development skills, while practicing life and social skills. My son, Jake, has participated in SEEDs for about three years. During that time, he has grown in confidence and abilities. With encouragement and coaching, Jake got a job as a 50/50 raffle sales person for the Arizona Diamondbacks. During the 2019 baseball season, he was one of the top sellers and was named Employee of the Month in August. Jake’s is only one of many success stories.

About 40 of SEEDs’ approximately 250 participants have found outside employment as a result of what they learned there. Skills are taught in welding, sewing, weaving, wood-turning, ceramics, jewelry, writing, computers, video production, screen printing and more. Participants learn from professionals who are experts in their fields and know how to create products that are beautiful and functional. SEEDs is also creating a business model intended to eventually create on-site jobs for a percentage of those who are in the program.

SEEDs contracts with a Board Certified Behavior Analyst (BCBA) who helps write language and social-skill goals. Classes and departments have a 1:1 to 1:4 teacher-student ratio, which allows for concentrated attention. This hands-on approach empowers participants to contribute and gain a better understanding of what is required to communicate, manage anxiety and work with others.

Community involvement is vital to SEEDs’ long-term success. Volunteers, donations and purchases are always appreciated. Take a moment to watch the video below and explore their website at www.seedsforautism.org.

Discovery Day will be a fun event and a great opportunity to do some early holiday shopping. We hope to see you there!

Empowering Young Adults with Autism

 

Discovery Day

November 16, 2019

10:00 a.m. to 2:00 p.m.

3420 S. 7th Street, Phoenix

Experience a variety of autism-friendly activities and explore new interests at this FREE community event.

Activities include carnival games, prizes, face painting, obstacle course, puppets, archery, martial arts, remote control cars, therapy dogs and more.

Meet-and-greets with Phoenix Police K-9 unit, Phoenix Herpetological Sanctuary, chess club and other groups. Buy delicious food and drinks, and visit Creation Stations to make origami, leather ornaments, wire bracelets, bath salts and more.

Get more details here!

By |2019-10-21T09:14:50-07:00October 21st, 2019|Charitable Giving, Company News|

Financial Education Podcast

Lupe Camargo (pictured right) was interviewed on the Phoenix Business RadioX show “Mind, Money, Motion” hosted by Marie Burns and sponsored by Women’s Enterprise Foundation. Along with Elena Zee, president of the Arizona Council on Economic Education, they discussed the importance of financial education and the keys to positive, long-term behavior change. Following are a few of Lupe’s highlights from the financial education podcast, as well as the full one-hour recording.

Neuroscience Insights

Why is it so hard to change our behaviors, despite how much we may want to change? Our brains are wired for survival. As a result, making big changes takes a lot of work and energy that your brain wants to conserve. So let your brain off the hook by making small, easy changes, and you’ll see greater tong-term success. 4-minute audio

Motivating Children

How do you educate and motivate children to establish better money habits? Lupe shares her thoughts. 2-minute audio

Distractions and Convenience

Marketing professionals work hard to influence your decisions and make spending money as easy as possible. Therefore, Lupe offers a simple strategy to break the cycle. 2-minute audio

What Are Your Habits?

You can’t change your behaviors and habits if you don’t even know them. So take the first step, and make a list.  Are those habits helping or preventing you from getting where you want to go? 2-minute audio

Key Take-Aways

Know how your environment and your history with money affect your habits. Take small steps to change your environment. Surround yourself with people who will support that change. Be patient with yourself. Lasting change takes time and perseverance. 2-minute audio

Financial Education Podcast: one-hour audio

Click here if you’d like to listen to the full one-hour podcast featuring Lupe, Arizona Council on Economic Education President Elena Zee, and radio host Marie Burns, on the Business RadioX website.

By |2019-09-30T12:02:40-07:00September 30th, 2019|Advisors, Company News|