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Oppenheimer Financial Monthly
| Planning Your financial Future |
July 2010 | |
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I hope everyone has a great 4th of july weekend! Enjoy.
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Will You See Higher Tax Rates in 2011?
The Economic Growth and Tax Relief Reconciliation Act of 2001, followed two years later by the Jobs and Growth Tax Relief Reconciliation Act of 2003, reduced the top marginal tax rate to 35% and the top capital gains rate to
15%. But this tax relief was designed to be temporary. And now, in 2010, we're only months away from seeing those provisions expire. |
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Social Security: File-and-Suspend for Higher Benefits
If you're married and looking for opportunities to increase retirement income, you may want to look closely at your Social Security benefits. One opportunity for maximizing Social Security income, called "file-and-suspend," may enable a married couple to boost both their retirement and survivor's benefits. |
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Using Yield to Evaluate Stocks and Bonds
A core consideration for income investors is an investment's yield, which indicates the value of the payments you'll receive. Yield can be a useful tool in considering whether you'd rather try to generate future income from bonds or stocks, and whether its price is appropriate. |
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My child got a scholarship for college. Is it taxable?
If a scholarship is used to pay for college tuition, fees, books, or required equipment, it's not taxable. But if the scholarship is used to cover room and board, travel costs, or optional equipment, or if it's awarded as payment for teaching, research, or some other required service, then it is taxable. |
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How will a college scholarship affect my child's 529 plan?
If your son or daughter gets a college scholarship, federal rules governing 529 plans allow you to withdraw from the account an amount equal to your child's scholarship. You won't owe the 10% penalty that typically applies to the earnings portion of any withdrawal not used to pay the beneficiary's qualified education expenses. However, you'll still owe income tax on the earnings portion of the withdrawal. |
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