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Finding and Claiming Forgotten Funds

As a child, you may have dreamed about finding buried treasure, but you probably realized at an early age that it was unlikely you would discover a chest full of pirate booty. However, the possibility that you have unclaimed funds or other assets waiting for you is not a fantasy.

According to the National Association of Unclaimed Property Administrators (NAUPA), $41.7 billion is waiting to be returned by state unclaimed property programs. So how do you find what is owed to you, even if it's not a fortune?

State unclaimed property programs

Every state has an unclaimed property program that requires companies and financial institutions to turn account assets over to the state if they have lost contact with the rightful owner for one year or longer (such as when the account has been inactive). It then becomes the state's responsibility to locate the owner. State-held property generally can be claimed in perpetuity by original owners and heirs.

Q&As on Roth 401(k)s

The Roth 401(k) is 10 years old! With 62% of employers now offering this option, it's more likely than not that you can make Roth contributions to your 401(k) plan.1 Are you taking advantage of this opportunity?

What is a Roth 401(k) plan?

A Roth 401(k) plan is simply a traditional 401(k) plan that permits contributions to a designated Roth account within the plan. Roth 401(k) contributions are made on an after-tax basis, just like Roth IRA contributions. This means there's no up-front tax benefit, but if certain conditions are met both your contributions and any accumulated investment earnings on those contributions are free of federal income tax when distributed from the plan.

Who can contribute?

Mid-Year 2016: An Investment Reality Check

Market volatility is alive and well in 2016. Low oil prices, China's slowing growth, the prospect of rising interest rates, the strong U.S. dollar, global conflicts--all of these factors have contributed to turbulent markets this year. Many investors may be tempted to review their portfolios only when the markets hit a rough patch, but careful planning is essential in all economic climates. So whether the markets are up or down, reviewing your portfolio with your financial professional can be an excellent way to keep your investments on track, and midway through the year is a good time for a reality check. Here are three questions to consider.

1. How are my investments doing?

Can I name a charity as beneficiary of my IRA?

Yes, you can name a charity as beneficiary of your IRA, but be sure to understand the advantages and disadvantages.

Generally, a spouse, child, or other individual you designate as beneficiary of a traditional IRA must pay federal income tax on any distribution received from the IRA after your death. By contrast, if you name a charity as beneficiary, the charity will not have to pay any income tax on distributions from the IRA after your death (provided that the charity qualifies as a tax-exempt charitable organization under federal law), a significant tax advantage.

No Frills Buffalo Publishing Company Launches New Website

No Frills Buffalo Publishing Company Launches New Website

No Frills Buffalo publishing company has launched a new website — www.nfbpublishing.com — after its previous website was lost due to a technical failure experienced by the website’s former host.

“Due to a massive failure of the No Frills Buffalo website hosting company, nofrillsbuffalo.com is now nfbpublishing.com,” said the Buffalo-based publishing company’s owner, Mark Pogodzinski. “All literary submissions and contact should now be conducted through the new website. Emails can also be sent to mark@nfbpublishing.com.

Can I make charitable contributions from my IRA in 2016?

Yes, if you qualify. The law authorizing qualified charitable distributions, or QCDs, has recently been made permanent by the Protecting Americans from Tax Hikes (PATH) Act of 2015.

You simply instruct your IRA trustee to make a distribution directly from your IRA (other than a SEP or SIMPLE) to a qualified charity. You must be 70½ or older, and the distribution must be one that would otherwise be taxable to you. You can exclude up to $100,000 of QCDs from your gross income in 2016. And if you file a joint return, your spouse (if 70½ or older) can exclude an additional $100,000 of QCDs. But you can't also deduct these QCDs as a charitable contribution on your federal income tax return--that would be double dipping.

It’s Your World! Develop It! Powered by AT&T and WNY STEM Hub

It’s Your World! Develop It! Powered by AT&T and WNY STEM Hub

 

WNY STEM Hub, SUNY Buffalo State and the Girls Scouts of America Teams up with AT&T to Launch the Region’s First All Girls Coding Program to Close the Tech Gender Gap 

 

AT&T, WNY STEM Hub, SUNY Buffalo State and the Girls Scouts of Western New York have partnered to create the region’s first computer coding program exclusively for girls, It’s Your World! Develop It! Powered by AT&T, to encourage more women to enter the field of technology, specifically coding, an industry that is alarmingly male-dominant.