Tracy L Dodson Dorothy Thomas Broncos are BC Holiday Tourney champs Lady Warriors win 3rd straight BC Holiday Tournament Jays take two in Pepsi Classic Lady Jays cap off Pepsi Classic with victory over St. Patrick Michael N Davis Alan P Johnson Paul Nevels James L Ballein Top ten stories of 2017 Chamber discusses plans for 2018 Marcy’s Country Kitchen holiday gifts Lawrence J Reynolds Chester L Sininger John E Wilson Lewis recognized by EHS Athletic Dept. Western Brown wrestling team tops Tigers in regular season dual Broncos even at 3-3 Lady Rockets blast past CCP, fall to Bethel-Tate Angela L Shuler John C Otten Shop With a Cop 2017 Teen charged with multiple rapes G’Town Council plans to raise water rates Rita Tarvin Rocket win streak reaches five G-Men ascend to 4-0 in SBAAC National Division with win at Williamsburg Jays soar to 3-1 with win at North Adams Young Lady Jays improving as season progresses Mary J Yockey Callie J Maynard Windle Blanton Daisy D Nevels Regional disaster drill held Jacob honored Sardinia joins new fire district County pays 10K in Varnau attorney fees Gast’s three-point shower drowns the Tigers Lady Rockets capture wins over Ripley, Batavia Keplinger signs with Shawnee State Warriors down the Devils, fall to the Greyhounds Broncos edge out Williamsburg, 53-50 Carol S Newman John E Short $200M Solar Farm discussed Adult education continues to grow at Southern Hills Georgetown 2017 Christmas parade Donald C Vance John C Morris Rebecca E Simpon Hot start sets pace for Broncos’ 85-40 win over CNE G-Men get off to 1-1 start Lady Rockets start off season with tough string of road games Basketball Special: 2017-18 Katherine J Wolfe Virginia J Germann Rev Commadora Manning Mona K Kirker Anderson pleads guilty Mt. Orab Christmas Parade Senior Playground now open Unemployment rate up slightly in October Bonita Planck Carol J Wagner Christopher O Richey Sr Five new members to enter WBHS Athletic Hall of Fame Blue Jays ready to soar under Woodward Fischer named to OPSWA All-Ohio First Team of football all-stars High school girls’ hoop action kicks off in Brown County Man charged with killing grandson Orscheln holds grand opening in Mt. Orab New joint Fire & EMS District discussed Dale G Ferriel John E Slack Nicholas A Arthur Bonnie J Roush Charles E Faul Phyllis A Mills Carl L Watson Marc W Bolce Robert R Moore Robert K King June R Williams William T Ishmael Sr Deborah J Napier High school hoop action begins Fayetteville SAY Girls Wing Soccer Team finishes season among state’s Final Four Devils visit Georgetown for OHSAA Foundation Games Grandfather charged in boy’s death Reward for Stykes info doubles Veterans honored at Western Brown Wenstrup to run for re-election Shop With A Cop Donation Kenneth M McKinley Vilvens signs with Mount St. Joseph SBAAC awards girls tennis all-stars Layman inducted into Miami University Athletic Hall of Fame SBAAC hands out awards to First Team girls’ soccer all-stars John D Marks

Celebrate Father’s Day by investing

Father’s Day is almost here. If you’re a father, especially one with young children, get ready to add to your collection of homemade cards, ties, golf tees or other such gifts designed to please you. Your greatest gift, of course, is your children — and you would doubtlessly get great satisfaction from knowing that you’ve provided them with financial resources that can benefit their lives in many ways. So, why not use this Father’s Day as a starting point for investing in your children’s futures?

Here are a few methods for doing just that:

UGMA/UTMA — If you would like to buy and sell securities for the benefit of a child, you may consider opening a custodial account known as either an UTMA (Uniform Transfers to Minors) or UGMA (Uniform Gifts to Minors) account. You would serve as the custodian for this account, giving you control of it until your child turns either 18 or 21 (depending on your state of residence), at which point he or she would take over ownership. Investment income from an UGMA/UTMA account can receive favorable tax treatment. As long as the child is under age 19 (or under age 24 and a full-time student) and does not have earned income providing more than half of his or her support, the first $1,050 of investment income is tax-free, and the next $1,050 will be taxed at the child’s tax rate, which is typically 10%. Investment income above $2,100 will be taxed at the parent’s tax rate.

Roth IRA — Even young children can contribute to a Roth IRA, as long as they have some type of earned income from babysitting, mowing lawns or any other type of employment. Your children can fund a Roth IRA and choose from several different types of investments — stocks, bonds, government securities, and so on — and withdrawals of contributions are tax-free. Roth IRA earnings are also tax-free, providing the investor is at least 59½ and has had the account for at least five years. A Roth IRA can be used to help provide retirement income for your children, but it also offers penalty-free withdrawals of earnings when the money is used for a first-time purchase of a home.

529 Plans — If you would like to give your child the gift of education , earnings in a 529 college savings plan accumulate and are distributed tax free, provided they are used for qualified higher education expenses. (529 plan distributions not used for qualified expenses may be subject to federal and state income tax and a 10% IRS penalty on the earnings.) Another benefit to 529 plan contributions is that they may be deductible from your state taxes. However, 529 plans vary, so be sure to check with your tax advisor regarding deductibility. A 529 plan offers other benefits, too. For one thing, the lifetime contribution limits are generous; while these limits vary by state, some plans allow contributions well in excess of $200,000. And a 529 plan is flexible: If your child decides against college or vocational school, you can transfer the unused funds to another family member tax and penalty free.

Living and Testamentary Trusts — If you would like to leave a financial legacy for your children, and even their children, but still maintain some control over when they receive the money and how they can use it, you might consider speaking with an estate-planning attorney about establishing a trust. Some individuals create a trust to offer long-term support to heirs or charities after death, whether for several decades or several generations. Before you decide on any of these plans, consult with your tax and financial professionals to make sure the arrangement you’ve selected is suitable for your needs.

But however you choose to help your children, your generosity will make all the Father’s Days to come even more meaningful for you — so consider taking action soon.

Jim Holden is a local Edward Jones Financial Advisor. Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regarding your situation.

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2016 News Democrat