Category utma
UGMA, UTMA and 529 Plans (vintage post from 2009!)
The following post first appeared on Meyers Wealth Management’s pre-blog “News and Notes” section of our old website — back in October 2009. It is reproduced here all these years later, as still pretty accurate and relevant: A question often comes up amongst folks of a certain age regarding UGMA/UTMA accounts. Namely, since many of […]
Kiddie Tax and the 2017 Tax Reform
What’s the Kiddie Tax? Under the Tax Reform Act of 1986, a new “Kiddie Tax” was introduced in order to close a loophole through which wealthy folks were getting investment income taxed at lower rates by transferring assets to their children. Under the ’86 rule, unearned income (mainly investment income like stock dividends, interest, and […]
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