07282016Thu
Last updateWed, 27 Jul 2016 10am

News

Program aims to help teachers afford housing

The Los Altos School District and Los Altos Community Foundation have joined forces to create an online form for local residents to connect with teachers in need of housing.

The district seeks to help teachers handle the high cost of housing in the ...

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Schools

AAUW supports local students at STEM Tech Trek camp

AAUW supports local students at STEM Tech Trek camp


Traci Newell/Town Crier
Tech Trek campers study the contents of a baby albatross’ stomach to understand the effect plastic can have on the marine ecosystem. The American Association of University Women provided scholarships that enabled seven...

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Community

Local vet: Dogs need teeth brushing, too: Pet Pause

Home oral hygiene can make a tremendous difference in your dog’s comfort and health. There are several home care oral hygiene options from which to choose, but keep in mind that anything you can do to help prevent plaque and tartar accumulation...

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Sports

It's been a big year for Little League

It's been a big year for Little League


Courtesy of Peter Jewett
The Los Altos & Los Altos Hills Little League’s 10-11 All-Stars won the Section 5 championship July 20. Front, from left: Connor Prahm, Jack Surdey, Jimmy Flynn, Rodrigo Ortiz, Justin Chou, Devan Reynard and Derek Gile....

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Comment

Letter to the Editor

LAH should examine short-term rentals

I used to think that a short-term rental (Airbnb style) was operated by someone who has a spare bedroom to share and was thus not a big issue. Living in Los Altos Hills, I was surprised to find out that one of m...

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Special Sections

Gardening for life: Strategies to make it easy

Gardening for life: Strategies to make it easy


Tanya Kucak/Special to the Town Crier
Succulents are a good choice for a small, low-maintenance garden that needs minimal water. Combine a variety of interesting colors and shapes.

If aches and pains are starting to limit your ability to garden, t...

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Business

Maybe think twice before extending that warranty

Maybe think twice before extending that warranty


I was in an electronics store the other day and at checkout they asked – doing their best “Would you like some fries with that?” routine – if I would like to purchase a warranty.

I never buy a service contract. Most good pr...

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People

ULF STAUBER

Ulf Stauber passed away at his home on July 13; he had been suffering from Parkinson’s Disease. Ulf was born in Berlinchen, Germany on May 23, 1938. Following the Russian invasion in 1945, he, his mother and two brothers fled to Hamburg where Ulf gre...

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News

Program aims to help teachers afford housing

The Los Altos School District and Los Altos Community Foundation have joined forces to create an online form for local residents to connect with teachers in need of housing.

The district seeks to help teachers handle the high cost of housing in the area. According to district officials, many teache...

Readmore

Business

Maybe think twice before extending that warranty

Maybe think twice before extending that warranty

I was in an electronics store the other day and at checkout they asked – doing their best “Would you like some fries with that?” routine – if I would like to purchase a warranty.

I never buy a service contract. Most good products come with a decent warranty, and if I shop ...

Readmore

Sports

It's been a big year for Little League

It's been a big year for Little League

Courtesy of Peter Jewett
The Los Altos & Los Altos Hills Little League’s 10-11 All-Stars won the Section 5 championship July 20. Front, from left: Connor Prahm, Jack Surdey, Jimmy Flynn, Rodrigo Ortiz, Justin Chou, Devan Reynard and Derek Gile. Middle: Thomas Walker, Alex Fuchs, Jake Skaggs, L...

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Community

Local vet: Dogs need teeth brushing, too: Pet Pause

Home oral hygiene can make a tremendous difference in your dog’s comfort and health. There are several home care oral hygiene options from which to choose, but keep in mind that anything you can do to help prevent plaque and tartar accumulation will pay big dividends. The most important thing ...

Readmore

Comment

Letter to the Editor

LAH should examine short-term rentals

I used to think that a short-term rental (Airbnb style) was operated by someone who has a spare bedroom to share and was thus not a big issue. Living in Los Altos Hills, I was surprised to find out that one of my neighbors in a small cul-de-sac is renting out a...

Readmore

People

ULF STAUBER

Ulf Stauber passed away at his home on July 13; he had been suffering from Parkinson’s Disease. Ulf was born in Berlinchen, Germany on May 23, 1938. Following the Russian invasion in 1945, he, his mother and two brothers fled to Hamburg where Ulf grew up. He emigrated to the United States in 1963, l...

Readmore

Schools

AAUW supports local students at STEM Tech Trek camp

AAUW supports local students at STEM Tech Trek camp

Traci Newell/Town Crier
Tech Trek campers study the contents of a baby albatross’ stomach to understand the effect plastic can have on the marine ecosystem. The American Association of University Women provided scholarships that enabled seven local middle-school girls to attend the camp at S...

Readmore

Special Sections

Gardening for life: Strategies to make it easy

Gardening for life: Strategies to make it easy

Tanya Kucak/Special to the Town Crier
Succulents are a good choice for a small, low-maintenance garden that needs minimal water. Combine a variety of interesting colors and shapes.

If aches and pains are starting to limit your ability to garden, then gardening industry expert Toni Gattone has a s...

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Stepping Out

TheatreWorks gets political

TheatreWorks gets political

Kevin Berne/Special to the Town Crier
Tasha Lawrence and Richard Prioleau play journalists in TheatreWorks Silicon Valley’s world premiere of “Confederates,” playing through Aug. 7 at the Lucie Stern Theatre in Palo Alto.

TheatreWorks Silicon Valley recently launched its 47th season with Suzann...

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Obituaries

ULF STAUBER

Ulf Stauber passed away at his home on July 13; he had been suffering from Parkinson’s Disease. Ulf was born in Berlinchen, Germany on May 23, 1938. Following the Russian invasion in 1945, he, his mother and two brothers fled to Hamburg where Ulf grew up. He emigrated to the United States in 1963, l...

Readmore

Magazine

Festival offers fun for just about everyone

Festival offers fun for just about everyone

TOWN CRIER FILE PHOTO
The 37th annual Los Altos Arts & Wine Festival expects to draw thousands of people to the downtown village over the weekend. The festival features arts, crafts, food, wine, beer and children’s activities.

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Education IRAs aren't just for kids' college anymore

By now, you might have heard that beginning in 2002, you can contribute up to $2,000 annually to an Education IRA, compared to the current $500 yearly maximum. What many people aren't aware of is that recently passed tax-reform legislation greatly expands what you can spend this money on.

Previously your Education IRA could only be used to pay for college expenses. Beginning in 2002, you can tap these funds tax free to pay for a gamut of qualified school-related expenses not only for college but also for private and public primary and secondary educational institutions. Qualified expenses may include: computer equipment and software (no games) used by the student and other household members for educational purposes; Internet service used by the student and other household members for educational purposes (e.g. research for a term paper); tutoring; school uniforms; books and school supplies; transportation; room and board and tuition; and extended-day school programs.

By paying these and other education-related expenses with your Education IRA, you pay no taxes on your withdrawals, which gives you more buying power.

For example, if you contributed the $500 maximum to an Education IRA this year for your newborn child and then contributed the $2,000 maximum next year and every year until your child turns enters kindergarten, you could potentially accumulate $15,465 at an 8 percent annual compounded rate of return.

That money can be withdrawn tax free, which is a much better deal than if you had saved that money in an interest-bearing savings account and then had to pay taxes on the interest you earned.

Consider using a combination of an Education IRA and a 529 college savings plan if you want to save for your children's college and primary and secondary school education. The 529 plans can only be used for college expenses, but the Education IRA could be available to pay for school-related expenses until college. However, unlike other savings plans such as Education IRAs, anyone at any income level can contribute to a 529 plan.

Beginning next year, 529 plan withdrawals also will be federally tax-free. In addition, U.S. residents can participate in any state's 529 plan and set up accounts for their children, grandchildren, friends or even themselves. But keep in mind that each state's plan may invest your contributions differently and levy its own costs and fees. Be sure to shop around for the 529 plan that best fits your needs.

Education IRAs and 529 plans are a one-two punch that is hard to beat. With college expenses increasing faster than inflation, parents need all the help they can get. Your financial consultant can help you determine which savings plan, or combination, is the best strategy for you.

Steve Zeller is a financial consultant with A.G. Edwards & Sons Inc., member SIPC, 379 Lytton Ave., Palo Alto 94301. For information, call 326-5010.

Submit a Letter to the Editor

The Town Crier welcomes letters to the editor on current events pertinent to Los Altos, Los Altos Hills and Mountain View. Write to us at 138 Main St., Los Altos 94022, Attn: Editor, or email editor Bruce Barton at bruceb@latc.com. Because editorial space is limited, please confine letters to no more than 200 words. Include a phone number for verification purposes. Anonymous letters will not be printed.

You can also have your say right here at losaltosonline.com – scroll to the bottom of any story to add a comment. 

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