Archive for October, 2009

Weekly Recap & Outlook – 10.30.09

Friday, October 30th, 2009

Tower Private Advisors

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  • Rising dollar rocks stocks
  • Consumer confidence fading
  • GDP positive

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529 College Savings Plan Update

Thursday, October 29th, 2009

Here is a near-year-end reminder to Indiana residents regarding the state’s CollegeChoice 529 Savings Plan.  Indiana taxpayers are eligible for a state income tax credit of 20% of contributions, up to a $1,000 credit per year. When you do the math, annual contributions of $5,000 will give you the maximum credit of $1,000 on your Indiana state income taxes. Keep in mind, that’s a credit, not a deduction – much more valuable! In order to take advantage of this credit 2009 contributions need to be made by December 31, 2009. Unlike IRAs, you cannot make a contribution in early 2010 and make it count for 2009. Don’t miss the 12/31/09 deadline!

There’s also an important update for 2010.  After the first of the year, the Indiana CollegeChoice 529 Savings Plan will no longer count rollover contributions from other 529 plans toward the 20% state income tax credit. Bottom line, it needs to be new money, not a rollover from another 529 plan. Rollovers are still allowed for tax credit purposes in 2009.

You can fire an e-mail to Bob Nicholas by clicking here, or you may call him at 427.7003. 

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You should expect a shameless sales pitch, but Bob’s a nice guy and will probably just answer your questions, too. 

And clicking here will take you to the Indiana 529 plan website.

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Weekly Recap & Outlook – 10.16.09

Friday, October 16th, 2009

Tower Private Advisors

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  • Option expiration Friday
  • Brilliant insight on government debt outstanding
  • Earnings season in full swing
  • Economy limping along, dragging its bum leg

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What Stimulus?

Thursday, October 15th, 2009

So we were talking about when certain stimulus money would be spent and when our fabulous stimulus-related investment ideas would make us and our clients obscenely wealthy.  Naturally, I turned to the internet to find out more and came across this excellent graphic. (more…)

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Weekly Recap & Outlook – 10.09.09

Friday, October 9th, 2009
  • Tower Private Advisors

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  • Attractive options
  • Handful of stories
  • Waiting for the economy to improve

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