Tomorrow on Your Financial Choices:

On Saturday, April 26 - We'll be discussing what to expect in future tax rate changes - and how to plan for them!

We'll also be taking a look at the PA-1000 Pennsylvania Property Tax or Rent Rebate Program.

Don't miss it! Call in with your questions 610-720-7900

*lines open when show begins

IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication, including any attachments, is not intended or written to be used, and cannot be used, for the purpose of 1. avoiding penalties under the Internal Revenue Code or 2. promoting, marketing, or recommending to another party any transaction or matter addressed herein.

Securities offered through Valley National Investments, Inc. - an independent broker/dealer and member FINRA and SIPC.

FAQ FRIDAY - April 25, 2008

Q. Can Qualified Tuition Plans or 529 Plans be used for prep school?

A. Distributions from these plans must be used for qualified higher education expenses to avoid the tax and penalty on the earnings.

If you know that you will have tuition for elementary and secondary expenses, you may want to consider establishing a Coverdell Education Savings Account. There are limits on how much you may contribute to these plans based on adjusted gross income and there is no deduction for them but the earnings are tax deferred and distributions tax free is used for qualified education expenses. Please consult a tax advisor for the specific rules for these.


IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication, including any attachments, is not intended or written to be used, and cannot be used, for the purpose of 1. avoiding penalties under the Internal Revenue Code or 2. promoting, marketing, or recommending to another party any transaction or matter addressed herein.

Securities offered through Valley National Investments, Inc. - an independent broker/dealer and member FINRA and SIPC.

FAQ FRIDAY - 4/18/08

Q. What is the qualifying income for the economic stimulus payment?

A. There are two parts to the stimulus payment according to the IRS.

1.) You may be entitled to a payment based on tax liability if your adjusted gross income is within the qualifying limits of $75,000 or under for single and $150,000 or under for married filing jointly. The payment is equal to the taxpayer’s net income tax liability but not to exceed $600 for a single person or $1,200 for married filing jointly. There are additional amounts available if you have a qualifying dependent.

2.) If you have no tax liability, then you must have qualifying income of at least $3,000 which includes wages, self-employment income, social security SSA or Railroad Retirement Benefits RRB. The economic stimulus payment with this qualifying income will be a minimum payment of $300 for single or $600 for married couples.


IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication, including any attachments, is not intended or written to be used, and cannot be used, for the purpose of 1. avoiding penalties under the Internal Revenue Code or 2. promoting, marketing, or recommending to another party any transaction or matter addressed herein.

Securities offered through Valley National Investments, Inc. - an independent broker/dealer and member FINRA and SIPC.