Tax Warrior Chronicles

529 Plans & COVID-19 Tuition Refunds - 60 Days to Act

Posted on Fri, May 15, 2020

There have been many adjustments to society due to the coronavirus; the largest, of course, being the extended stay-at-home order. With fears of the virus spreading, schools have quickly switched to online learning and closed campus dorms. Many students who paid for room and board have or will receive partial refunds from their learning institutions, possibly leading to an unexpected tax bill.  If a student, or their parents, used a 529 plan withdrawal to pay for qualified education costs and then received a refund from the educational institution it is important to take action within 60 days of receiving the refund. Here’s why…

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Tax Reform – Why We’ve Been Nearly Silent

Posted on Thu, Nov 16, 2017

By: Eric R. Elmore and Jane Scaccetti, CPA, MT, PFS

 

There is no shortage of articles, opinions and talking heads about The Tax Cuts and Jobs Act.  Does it help the middle class, or hurt the middle class?  Is it good for the wealthy or does it not impact them much? Is it a job creator or a job killer? And, we can go on and on. Meanwhile, The Tax Warriors® at Drucker & Scaccetti have been relatively silent about the bill.  It’s time our subscribers understand why.

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