Football stadium tunnel

Treat Your Finances Like the NFL Draft

It’s the middle of April, and the 2015 NFL draft is quickly approaching.

This means aspiring professional football players have made their way to the NFL scouting combine, where talent evaluators have scrutinized their speed, strength, and agility. General managers and coaches are looking at both their existing rosters and the young players hoping to fulfill a lifelong dream by being drafted into the NFL.

How to Pay for College: Three Strategies

At this time of year, many families with college bound children are busy navigating the financial aid application process. A college education, long viewed as a pathway to the American Dream, remains a desirable goal for many, with some studies indicating as much as a 75% increase in earning power over the course of a career through the attainment of a degree. However, the soaring costs of higher education in recent decades have even middle-to-high income families wondering how best to fund this endeavor without jeopardizing their retirement or leaving their children saddled with huge debt. Finding the most efficient and beneficial path involves an understanding of both financial aid eligibility, as administered through the relevant government regulations and University policies, and the savings vehicles and strategies available to consumers.

A Helpful Change to Maryland’s Estate Tax Law?

Governor Martin O’Malley recently signed a new law that will reduce the sting of estate taxes over the next several years for Maryland residents. So how does the Maryland tax compare with the federal version? As defined by the IRS, “The Estate Tax is a tax on your right to transfer property at your death.” The federal government imposes a tax on taxable estates in excess of $5.34 million (the individual federal exemption amount, which increases for inflation annually). Maryland currently imposes an estate tax on taxable estates in excess of $1 million (the state exemption amount).