1 | Week In Review
The S&P followed the NASDAQ to 20% growth since last October’s lows. Small caps show strength, as does the Japanese market. Will this bull run stay? Will the Fed raise rates next week? Annex Wealth Management’s Dave Spano and Derek Felske discuss.
2 | Poll
Many Americans choose to travel, while others enjoy the more leisurely pace of summer from their homes and backyards. According to a study from travel site The Vacationer, about 85% of Americans plan on taking at least one trip this summer, with 62% solely traveling domestically and 6.39% only going international. Around 16.5% of respondents plan on both types of travel. (source)
Whatever you may be planning on doing, Annex Wealth Management wishes our clients a fantastic summer season! sun
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3 | Client Exclusive
Saving for Education
It’s the end of the school year!
Congratulations, you and your family have made it through another year of field trips, backpacks, school lunches and homework. Have you begun planning for future education costs?
There are several ways to save for a child’s education. One of the most popular ways is through a 529 plan, which is usually sponsored by state government and encourages saving for future education needs and expenses. Each state’s 529 plan is slightly different, so be sure to research your options prior to opening and funding the account. Money invested in a 529 plan grows tax-free if you use the funds towards eligible* education expenses.
*Eligibility generally includes tuition, fees, books, room and board, among other things. However, eligibility can differ by definition plan by plan.
Interested in learning more? Attend our webinar “The Gift of Education” on Tuesday, August 22 at noon Central. The link to register is below.
Contact your Wealth Manager for other education savings questions.
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The Next IRS Estimated Tax Payment Deadline Is Soon!
Some taxpayers submit Estimated Tax Payments for state or federal taxes on a set schedule during the year.
If you and your tax preparer have discussed making Estimated Tax Payments, please confer with them now to ensure that all accurate payments are sent on time for the upcoming June 15 deadline.
Taxpayers may consider submitting estimated tax payments if the amount of income tax withheld from your income is not enough, or if you receive income from specific sources. Always check with your tax preparer prior to submitting an Estimate Tax Payment to see if this is the correct approach for you and your situation.
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5 | Ask Annex
Annex Wealth Management’s Sarah Kyle, Matthew Morzy, CFP®, and Tania Sinha, CPA answer several Ask Annex questions.
Do you have a question for Annex Wealth Management? Drop it here.
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6 | Quote of the Week
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