10182017Wed
Last updateTue, 17 Oct 2017 5pm
Developer cancels First Street Green project

Developer cancels First Street Green project


Renderings of Los Altos Community Investment’s F...
LAH archer competes in world championships with Team USA

LAH archer competes in world championships with Team USA


Courtesy of Erik Schwartz
Los Altos Hills reside...
Eagles edged by Mustangs

Eagles edged by Mustangs


Megan V. Winslow/Town Crier
Los Altos High’...
Peninsula Youth Theatre gets 'Creepy'

Peninsula Youth Theatre gets 'Creepy'


Lyn Flaim Healy/Spotlight Moments Photography
Mo...
LAPD gains new officers, promotes others

LAPD gains new officers, promotes others


Megan V. Winslow/Town Crier

The Los Altos Po...

Los Altos converting streetlights to LEDs

Streetlights in Los Altos are undergoing an upgrad...

Foothills Congregational hosts justice forum

Foothills Congregational Church has scheduled “A F...

News

Developer cancels First Street Green project

Developer cancels First Street Green project


Renderings of Los Altos Community Investment’s First Street Green project show a three-story office building next to a public village square above underground parking.

The local development company planning an office redevelopment and public par...

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Schools

Study session examines MV-LASD partnership as school-site search continues

Representatives from the Los Altos School District and the Mountain View City Council last week participated in a study session that explored using a zoning strategy to facilitate acquiring land in the San Antonio shopping center area for a 10th scho...

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Community

Foothills Congregational hosts justice forum

Foothills Congregational Church has scheduled “A Forum on Justice Issues: The Courts” 11:30 a.m. to 1 p.m. Sunday at the church, 461 Orange Ave., Los Altos.

The first in a series of forums on issues of justice in the region will focus on the Santa C...

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Sports

Eagles edged by Mustangs

Eagles edged by Mustangs


Megan V. Winslow/Town Crier
Los Altos High’s Ben Parker races to the end zone in Friday’s game at Homestead. The junior scored a pair of touchdowns.

The Los Altos High football team’s execution may still be lacking at times, but it...

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Comment

Letters to the Editor

Use native plants to replace stinkwort

As a professional, I have been converting weedy hillsides in Los Altos Hills back to native grasslands and wildflower fields. During that time, a new noxious weed, stinkwort, started growing along Interstate 28...

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Special Sections

RWC's Freewheel Brewing pours British-style cask ales and more

RWC's Freewheel Brewing pours British-style cask ales and more


Courtesy of Devin Roberts
Freewheel Brewing Co.’s head brewer Alisha Blue trained in Germany and worked in the United Kingdom before brewing in the Bay Area.

Founded in 2012 as the only brewery making traditional cask-conditioned British-style a...

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Business

LARC prepares Matrix launch

LARC prepares Matrix launch


Elizabeth Barcelos/Town Crier
Los Altos Research Center plans to open its doors next month to introduce the Matrix, a new data-sharing program that seeks to take on and eventually replace the internet.

While Peet’s Coffee & Tea on State Stre...

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People

WILLIAM NORTH WELCH

May 13, 1955-September 24, 2017

Longtime Los Altos resident William (Bill) Welch passed away and joined his beloved mother in heaven. He was a loyal friend with a great sense of humor.

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News

Developer cancels First Street Green project

Developer cancels First Street Green project

Renderings of Los Altos Community Investment’s First Street Green project show a three-story office building next to a public village square above underground parking.

The local development company planning an office redevelopment and public park in downtown Los Altos has cancelled its plans fo...

Readmore

Business

LARC prepares Matrix launch

LARC prepares Matrix launch

Elizabeth Barcelos/Town Crier
Los Altos Research Center plans to open its doors next month to introduce the Matrix, a new data-sharing program that seeks to take on and eventually replace the internet.

While Peet’s Coffee & Tea on State Street bustles with customers, things are much quieter...

Readmore

Sports

Eagles edged by Mustangs

Eagles edged by Mustangs

Megan V. Winslow/Town Crier
Los Altos High’s Ben Parker races to the end zone in Friday’s game at Homestead. The junior scored a pair of touchdowns.

The Los Altos High football team’s execution may still be lacking at times, but it’s hard to find fault with the Eagles’...

Readmore

Community

Foothills Congregational hosts justice forum

            Foothills Congregational Church has scheduled “A Forum on Justice Issues: The Courts” 11:30 a.m. to 1 p.m. Sunday at the church, 461 Orange Ave., Los Altos.

            The first in a series of forums o...

Readmore

Comment

Letters to the Editor

Use native plants to replace stinkwort

As a professional, I have been converting weedy hillsides in Los Altos Hills back to native grasslands and wildflower fields. During that time, a new noxious weed, stinkwort, started growing along Interstate 280, then its seeds spread off the freeway onto town...

Readmore

Spiritual Life

New LAUMC pastor inspires with belief in the power of good

New LAUMC pastor inspires with belief in the power of good

McShane

Kathi McShane greets with an assuring smile. The new senior pastor of Los Altos United Methodist Church exudes positive energy and inspiration.

A belief in good strikes at her core – it’s a belief that provides strength as she leads the large church and its congregation into the future...

Readmore

People

WILLIAM NORTH WELCH

May 13, 1955-September 24, 2017

Longtime Los Altos resident William (Bill) Welch passed away and joined his beloved mother in heaven. He was a loyal friend with a great sense of humor.

Readmore

Schools

Study session examines MV-LASD partnership as school-site search continues

Representatives from the Los Altos School District and the Mountain View City Council last week participated in a study session that explored using a zoning strategy to facilitate acquiring land in the San Antonio shopping center area for a 10th school site.

A transfer of development rights (TDR) i...

Readmore

Special Sections

RWC's Freewheel Brewing pours British-style cask ales and more

RWC's Freewheel Brewing pours British-style cask ales and more

Courtesy of Devin Roberts
Freewheel Brewing Co.’s head brewer Alisha Blue trained in Germany and worked in the United Kingdom before brewing in the Bay Area.

Founded in 2012 as the only brewery making traditional cask-conditioned British-style ales on the Peninsula or in the South Bay, Freewhee...

Readmore

Stepping Out

TheatreWorks production of 'Prince' enters 2nd week

TheatreWorks production of 'Prince' enters 2nd week

Kevin Berne/Special to the Town Crier
Members of the ensemble create the sacred burning bush in TheatreWorks Silicon Valley’s world premiere of “The Prince of Egypt,” a new musical by Stephen Schwartz (music/lyrics) and Philip LaZebnik (book). The production runs through Nov. 5.

TheatreWorks Si...

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Obituaries

WILLIAM NORTH WELCH

May 13, 1955-September 24, 2017

Longtime Los Altos resident William (Bill) Welch passed away and joined his beloved mother in heaven. He was a loyal friend with a great sense of humor.

Readmore

Magazine

'All are welcome' moms group celebrates families helping families

'All are welcome' moms group celebrates families helping families

Megan V. Winslow/Town Crier
Stephanie Braun, from left, Adam Braun and Marty Braun of Mountain View and Michelle Evans, Chloe Knapp and Kevin Knapp of Sunnyvale swing at a recent Las Madres gathering at Marymeade Park in Los Altos.

A parent is born at the same time as her first child, and remad...

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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.

Reader Comments

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The 129th Rescue Wing Aids in Hurricane Harvey Rescue

Read the full story about the rescue here.
 

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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.

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