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09 Nov 2023 2024 Contribution Amounts, Tax Bracket Changes, and Social Security Increases

Posted at 15:58h in The Friday Brief by Ryan Smith, CFP®, RICP®, CTS™, MSFP

Each year around this time the IRS announces contribution limit and tax bracket increases for the upcoming year. The Social Security Administration does the same, notifying recipients what change in benefits they can expect. You may remember that all of the above--contribution amounts, tax brackets and...

28 Sep 2023 Why I Left the NC 529 Plan (And Why You Probably Don’t Need To)

Posted at 15:20h in The Friday Brief by Ryan Smith, CFP®, RICP®, CTS™, MSFP

Emily and I opened 529 accounts for Jack and Gwen within a month of their birth with The College Foundation of North Carolina (CFNC). When I set up Jack’s account more than 10 years ago what initially stuck out was how dated the website was...

07 Sep 2023 The IRS On Its Heels

Posted at 12:23h in The Friday Brief by Ryan Smith, CFP®, RICP®, CTS™, MSFP

Since 2010, there have been no fewer than five significant changes to the tax code. It began with the passing of the Affordable Care Act, which added a 0.9% Medicare tax on earnings above a certain threshold plus a 3.8% Net Investment Income Tax (NIIT)...

10 Aug 2023 Three Personal Finance Books You Should Read With Your Kids

Posted at 13:28h in The Friday Brief by Ryan Smith, CFP®, RICP®, CTS™, MSFP

Last Saturday the entire Beacon team, including kids, gathered at Jared's house to hang out and have dinner. On the drive home, Gwen asked a question that she and Jack ask from time-to-time: "Dad, what do you do at work?" My response is typically something...