Ken Leimberger Cathye J Bunthoff Lending a holiday helping hand G’Town Christmas Parade enjoyed by spectators Mt. Orab Auto Mall collects over 1,100 canned goods for local families “Celebration of Lights” held at fairgrounds Thirteen indicted by grand jury Lady Warriors hit the hardwood with high expectations Warriors reload after graduating four starters Six seniors hit the hardwood for Rockets Lady Rockets packed with size, talent Lady G-Men to rely heavily on young talent G-Men seek improvement after last year’s three-win season Skilled crew on the return for the Blue Jays Broncos begin quest for SBAAC American Div. crown Lady Broncos working hard toward SBAAC American Div. title after finishing as league runner-up last season Experienced crew of Lady Jays return to the hardwood Stephen C Foster Mary J Fitzgerald Tyler Hesler Herbert Polley Robert Layton Donald H Layton James T Smith Thomas M Calvert Thomas J Wolfer Cropper coaches way to 500th career victory Ohio’s Deer-Gun Season opens with more than 18,000 deer harvested Lady Broncos face talented Wilmington squad in season opener at Western Brown SHAC teams hit the hardwood for annual Boys Basketball Preview Western’s Leto and Jones excel in sophomore season of XC Lady Rockets open season with victory over Hillsboro Gary P Garrison Rev Larry T Allen Georgetown, Eastern MS honored by state Woodruff updates Chamber of Commerce Operation Christmas Child reaching out overseas G’town Christmas Parade Dec. 3 Ronald E Blessing Sharlee R West June A Goecke Rockets earn OVAL honors Ogden Court dedication set for Dec. 10 Jays host Broncos for OHSAA Foundation Game Ohio’s young hunters harvest nearly 6,000 deer during Youth Gun Season SHAC holds Girls Basketball Preview Foreclosure filed on former Meadowwood Care Facility Ten indicted by Brown County Grand Jury Nature Works Grant funds for new Senior Playground Shop with a Cop looking for donations and support BC Beekeepers Association busy rescuing honey bees Hilda F Steele Ronald L Palmer Bruce E Phillips Elizabeth J Ellison Daniel L Turner Cook inducted into OIAAA Hall of Fame Eastern honors Coach Kiser G-Men, Devils battle it out in OHSAA Foundation Game Jester is OVAL Football Player of the Year Ipad program a success in Georgetown schools Powih sentenced to six years on rape charges Air Evac team to get new headquarters building in Georgetown Four sentenced in Brown County Common Pleas Court Homer C Eldridge Dennis D Johnson SBAAC First Team soccer all-stars take home awards Ohio’s Deer-gun hunting season quickly approaching League champ Lady Broncos recognized at fall sports banquet SBAAC awards First Team football all-stars, league champion teams Irene D Thurman County GOP sweeps at ballot box Landfill project to provide electricity Three indicted by County Grand Jury BREAKING ELECTION NEWS Wanda L Nixon Ella A Moon David Rogers Joanna W Carter Ann L Yeary Tony Gacek Rigdon finishes 3rd in Pickerington Div. III Regional Meet, advances to OHSAA XC State Tournament Week 10 football roundup Linkous named SBAAC American Division Soccer Player of the Year SHAC awards boys golf all-stars, winning teams Donald L Bauer Andrew W Brown Early voting still going strong at Election Board Tree ordinance brings more questions at G’Town Council Steele named new mayor in R’ville ABCAP’s Reproductive Center receives $2,000 from Jaymie Jamison Foundation Robert E Bailey Myrtle L Stiltner Etta M Mays Kathleen A Holden Eastern XC teams head to Regional Meet A season to remember Lady Warriors finish runner-up in SHAC Div. I Lady Broncos finish season 10-8-1
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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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