529 plans

When giving cash gifts to grandchildren this holiday season, clients have options that can also help minimize their estate taxes in the future.

The right strategy can help minimize their future estate taxes.

Advisors say it’s never too early to start saving for college.

While there’s no fail-safe method for modeling the costs, a popular calculation may significantly under- or overstate the burden of tuition, room and board, Kitces.com research associate Derek Tharp writes.

Clients should consider tax breaks such as education expenses, mortgage interest payment and small business costs.

Retirement location "matters just as much to your tax bill as what you have,” an expert says.

The proposal aims to simplify tax subsidies by increasing qualified withdrawals from 529s in exchange for scrapping the Coverdell account.

Experts say 18-to-36-year-olds should take advantage of workplace 401(k) and Roth IRA tax benefits now and shop around for the best savings rates later.

Clients could face a 100% penalty of taxes owed for filing late.

Making excess withdrawals could result in taxes on the earnings and a hefty 10% penalty.