There is still time to establish a plan for the current tax year and take advantage of deductible contributions, but the deadline is very close. Owner-only businesses have until December 31 to establish 401(k), Profit-Sharing, or Defined Benefit Plans. Funding may be completed next year, by the business’ tax filing deadline, including extensions
It’s a conversation many of us have over the dinner table or with our colleagues at work: “I can’t believe the cost of college.” It is a very reasonable statement when you consider that many private colleges cost $40,000+ per year. My alma mater, New York University, is now over $50,000 per year. The question I keep coming back to is whether or not it’s worth it. I think the answer was a resounding yes up to the point when I graduated college (2004) but since then, a college education seems to be doing more harm than good for many, many people that I speak with. That’s not to say it’s wrong for everyone, but perhaps the decision to attend college, especially a private college, deserves a lot more contemplation than it has in the past. A recent article in Money Magazine ponders some similar questions and covers some specifics that I think my readers may find interesting.