Abby Presley, CFP®

The benefits discussed in this article are important but not an all-encompassing list of the employee benefit options that could be available. Take time to understand available options and determine how they can benefit your situation each year.

Awareness of gift tax rules is imperative when structuring a strategy. Whether gifting to adult family members or children, there are many ways to find a balanced approach to transferring assets.

With the Federal Reserve’s rapid interest rate increases, more options exist for your cash to earn interest. However, your bank may not be keeping up.

Any Indiana resident contributing to a CollegeChoice 529 plan is eligible for a refundable state tax credit. Being an account owner of a CollegeChoice 529 plan is not a requirement to receive the credit.

Given the number of cons, seeking alternative methods to transfer a home to beneficiaries efficiently is suggested. If probate avoidance is a goal, a revocable trust or a transfer on death deed should be considered.

If you plan to upgrade your home, why not take advantage of the new federal tax incentives? While more information is needed on the state-level rebate program, now is a good time to develop your home efficiency game plan.

There are many different ways to support charitable causes aside from making financial gifts. Gifts of time and expertise are also highly valued by charitable organizations. If you donate monetarily to charity, reevaluate your strategy for simplicity or tax efficiencies.

If there must be a positive aspect to higher inflation, increased contribution limits and income thresholds for retirement account contributions are just that.

Completing time-sensitive tax-related actions sooner rather than later means your focus can be on what truly matters during the holiday season – spending time with family and friends.

If there are thousands of dollars at stake, you would expect most parents and students to be anxious to apply. But unfortunately, that's not always the case. So even if you think you won't qualify, taking 60 minutes to complete the FAFSA could be well worth your time.

A 529 plan is an investment account mainly for post-secondary education expenses. Money contributed is not deductible, but all earnings accumulate tax-deferred and are distributed tax-free if used for qualified education expenses.

Identity theft and online scams are becoming more prevalent. As a result, consumers need to remain vigilant of the personal information shared and stored via online accounts.