W. Edward Newton Jr., CPA, CFP | 13850 Ballantyne Corporate Place, Suite 500 | Charlotte, NC 28277 | 704-552-8689

 

 

 

Financial Services by Newton Financial Network

Ed Newton, CPA, CFP

As a Certified Financial Planner I recently attended a financial services workshop in Indianapolis, IN.

It was hosted by Archer Funds, the registered advisor firm we work through to provide financial advice to our clients here in the Charlotte / Mecklenburg County area.

This forum allowed for two days of learning and networking. Speakers included the President of Archer Funds, Troy Patton, who spoke on the state of the market.

Troy is known for understanding how world events and complex factors affect our U.S. Market.

Steve Demas, Portfolio Manager, spoke on client services. Steve has a long history of working with clients on their personal finances and individual investments before dedicating all of his time to researching appropriate investments for the Archer portfolios.

John Rosebrough, Chartered Financial Analyst, provided insight into the technical aspects of portfolio management.

Troy, Steve and John actively manage the Archer Funds and the portfolios that are built around these funds. We offer investment advice through our Newton Financial Network.

For a free review of your investments, give me a call at 704-552-8689 or download one of my 4 FREE reports on investing at my Newton Financial Network website.  Thanks!  Ed

 


 

 

Ed Newton, CPA


If you're a client of mine I would like to hear from you about how you like our tax or accounting services.
 

Call our Testimonial Hotline & give us your feedback at:

 

704-412-8CPA or 704-412-8272

 


 



 

 

 

Higher Education Costs Continue to Escalate & Help Grandchildren with College Costs

 

Higher Education Costs Continue to Escalate

The cost of attending college continues to increase. The College Board reports that 2012-2013 tuition and fees have risen significantly (www.collegeboard.org).

 

Private four-year colleges are up 4.2% (to an average of $29,056)from 2011-2012 for tuition and fees. Public four-year colleges are up 4.8% (to an average of $8,655) from last year for in-state tuition and fees.

 

Public four-year colleges are up 4.2% (to an average of $21,706) from last year for out-of-state tuition and fees. Even public two-year schools are up 5.8% (to an average of $3,131).

 

The report indicates that the subsidies provided to full-time undergraduates at public universities through the combination of grant aid and federal tax benefits averaged $5,750 in 2012-2013.

 

 

 



Help Grandchildren with College Costs

Contributing to a Section 529 college savings program is a great way for grandparents to help their grandchildren pay for college.

 

It is also a great way to remove assets from the grandparent's estate without paying estate tax. As an added feature, money in a 529 plan owned by a grandparent is not assessed by the federal financial aid formula when qualifying for student aid.

Grandparents, as well as other taxpayers, have a unique opportunity for gifting to Section 529 college savings plans by contributing up to $70,000 at one time, which currently represents five years of gifts at $14,000 per year. ($14,000 is the annual gift tax exclusion amount for 2013.) A married couple who elects gift-splitting can contribute up to double that amount ($140,000 in 2013) to a beneficiary's 529 plan account(s) with no adverse federal gift tax consequences.

 

Example: Electing to spread a 529 plan gift over five years.

In 2013, Linda contributes $75,000 to a 529 plan account for the benefit of her grandson, James. She makes no other gifts to James in 2013. Because the gift exceeds the $14,000 annual gift tax exclusion, Linda elects to account for the gift ratably over five years beginning with 2013. Only $70,000 (five times the current annual gift tax exclusion) is eligible for the election; therefore, Linda is treated as having made an excludible gift of $14,000 in years 2013-2017, and a taxable gift of the remainder ($5,000) in 2013.

 

 

 


 

"Like" us on our New Facebook FAN Page

 

Hi everyone!! We've just created a business/fan page for our CPA/CFP business.

 

If you want updates on tax or investment subjects, click on this link and LIKE our page.
 

We'll post new relevant information on tax reduction, accounting & finance as well as investing that you can read and comment on.

 

Thank you in advance for "Liking" us!

 

To read this or any other past article online please click here and then scroll down to our newsletter archive.

 

 



Would You Do Me A Quick Favor And Give Me An Online REVIEW on Google+ Local?

If you are a local business like I am, more and more people FIND you by going online and searching.  To help me be found the same way by good clients like you would you take 2 minutes and give me a Review on my Google+ Local listing?

 

Just click here and it will take you to my listing.  From there just click on the blue Write a Review button.  Thank you in advance for your help! 

If you have any questions about giving us a Review or have an accounting or investments question about yourself or your business, please give me a call at 704-552-8689.  I can help guide you in the right direction.

 

To read other articles like this online, click here or go to www.EdNewtonCPA.com and click on the News link.

 


 

As always you may call our offices if you have any questions about these or any other accounting, tax, financial planning or Quickbooks related issues, at 704-552-8689. 

 

Regards, W. Edward Newton Jr., CPA, CFP

Certified Public Accountant

 

 

 

W. Edward Newton Jr., CPA, CFP | Certified Public Accountant

13850 Ballantyne Corporate Place, Suite 500 Charlotte, North Carolina 28277 Phone: (704) 552-8689 | Email: ednewton@ednewtoncpa.com