Request a Consultation.
If you’d like to request a consultation, please complete the form below and we’ll be in touch soon!
Need a last minute holiday gift idea for your child?1 min read
When planning gifts for children on your holiday list, you might want to think beyond the traditional retail offerings. Consider financial gifts that can bestow benefits for many years to come.
Some financial gift options you might consider:
* U.S. savings bonds: Savings bonds are used by many families to introduce children to the concept of saving. I bonds are indexed for inflation and can provide relatively attractive rates of return.
* IRAs (regular or Roth): For 2011, you can contribute the lower of $5,000 or the earned income of the child. An early financial start can produce amazing benefits from compounded interest accumulated over several decades.
* Stocks or mutual funds: Equities are a good way to introduce a child to the investment world.
* Collectible stock certificates: Vibrant, framed certificates are available for many companies. A Disney, Dream Works, or Coca-Cola stock certificate can provide a colorful reminder of the importance of investing for the future.
* Collectibles: Postage stamps or coin collection kits can provide years of enjoyment and form the basis for some life-long hobbies. An interesting gift idea is an official U.S. mint proof coin set for the year the child was born.
Please call our office at (317) 782-3070 if you would like to review the tax issues related to any of these financial gift options, especially if you are considering a larger amount.
By Simons Bitzer
Here are a few additional articles you might be interested in:
Staff Accountant
JOB DESCRIPTION Position: Staff Accountant Department: Accounting Status: Full Time OVERALL SUMMARY OF POSITION: As a Staff Accountant, you will have the opportunity to help ensure that the firm’s clients receive high quality services on a timely basis by supporting...
Should You Elect Out of the New Partnership Audit Rules?
The Bipartisan Budget Act signed into law in 2015 and effective for partnership returns filed for taxable years beginning after 2017 has significant impacts on partnership audits. Most notably that audit adjustments are to be recognized in the year an audit is...
Senior Tax Accountant
JOB DESCRIPTION Position: Senior Tax Accountant Department: Tax Status: Full-time OVERALL SUMMARY OF POSITION: As the firm’s Tax Senior, this person will ensure that the firm’s clients receive high quality services and accurate tax returns on a timely basis along with...