Scribner, Cohen and Company, S.C. ClientLine Newsletter

Scribner, Cohen and Company, S.C.

Phone: 414-271-1700

May 2026

529 College Savings Plan To Minimize Taxes

A 529 college savings plan* is a popular way for families to save for higher education expenses while enjoying significant tax advantages. Contributions grow tax-free when used for qualified education costs, such as tuition, books, and room and board. To maximize these benefits, consider contributing early and regularly, allowing your investments more time to grow.

Taxable Fringe Benefits

Generally, employers must report the value of fringe benefits provided to employees as taxable income, unless the IRS explicitly excludes them. Excludable (non-taxable) examples include:

Top Summer Travel Destinations

Some of the top travel trends in 2026, according to U.S. News & World Report and Expedia, include iconic national parks, coastal getaways, mountain adventures, and historic cities celebrating America's 250th anniversary (America 250). Here are a few of the top trending destinations this year:

Start Your College Grad's Financial Wellness Path

You may be able to do this utilizing any unused funds in the student's 529 Plan. The IRS now allows rollovers of these funds to a Roth IRA in the child's name.

May 2026 Client Profile

The Thompson family faced a familiar challenge: funding their daughter Mia's four-year degree at a public state university, with annual costs reaching $28,000, totaling over $112,000.

Budget-Friendly Gardening Tips

May is prime time for spring planting in many regions, with warmer soil perfect for starting vegetables and flowers. Here are practical tips to maximize your garden's output while minimizing costs:

May 2026 Q and A

Let's talk about how to file an amended tax return.

Savvy New Car Shopping Tips

Memorial Day weekend kicks off summer—and some of the year's best car deals! Dealerships clear out older inventory to make way for new models, offering rebates, low APR financing, and lease specials.

Business Exit Planning

Potential taxes can greatly affect the proceeds from selling your business. One way to reduce the tax burden is to perform an installment sale, especially if the buyer doesn't have enough cash or will pay a contingent amount based on the company's performance.

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