Back to School!

Alex:

Hello everyone and thank you for joining us for our bi-weekly commentary. As always, I'm joined by my partners, Tom Boh and Kelly Heppe.

With back-to-school season upon us, we thought it would be a great time to highlight some changes and unique features of the 529 savings plan.

I’d like to start with the 529-to-Roth IRA rollover provision, which remains unchanged under the new tax bill. Up to $35,000 from a 529 account can be rolled over into a Roth IRA for the designated beneficiary. One important caveat: the 529 account must have been open for at least 15 years before a rollover is allowed.

With that, I’ll hand it over to Tom.

Tom:

Thanks, Alex. There have been some updates to the list of qualified expenses that can be covered by 529 plans. These now include tutoring, educational classes, standardized test fees—such as SAT, ACT, and AP exams—as well as online learning platforms and software.

Additionally, therapies like speech, occupational, and other educational therapies are now considered qualified expenses.

Another notable addition is career and vocational training. This includes trade schools, apprenticeship programs, professional certification courses, and continuing education for license maintenance. Kelly?

Kelly:

Thanks, Tom. Some families are now using 529 plans as part of a legacy wealth transfer strategy. By funding accounts for multiple generations, they can create a tax-advantaged pool of educational resources that grows over time. This approach can potentially reduce estate tax exposure while supporting lifelong learning across the family.

With that, we wish everyone a very happy Labor Day weekend. Go Buffs, go Buckeyes, go pioneers, go Hawkeyes and go Orediggers!

🎉 Modified Office Hours – Long Weekend Ahead!

In celebration of the Labor Day holiday, our office will be closing early on Friday, August 29th. Please note that both the markets and our office will be closed on Monday, September 1st.

We’ll be back and ready to assist you during our regular business hours on Tuesday, September 2nd (7:30 AM – 4:00 PM MST).

Wishing  you a safe and relaxing holiday weekend!

Thank you, Rachael!

We’re excited to share that Rachael will be relocating back to the D.C. area to be closer to her family. We’re incredibly grateful for her wonderful support over the past year, especially for stepping in while Larry was recovering from his knee surgeries. Her dedication and care have made a meaningful impact, and we wish her all the best in this next chapter.

Light the Night for LLS

We’re proud to share that we’ll be participating in this year’s Light the Night Walk, supporting the Leukemia & Lymphoma Society in their mission to fight blood cancers.

This inspiring event brings together communities to honor survivors, remember loved ones, and raise funds for critical research and patient support. We’d love for you to join us—whether by walking alongside us or contributing through a donation.

The walk takes place on September 25th, and we’ll be sharing more details soon about how to get involved. Thank you for being part of this effort with us.