05272017Sat
Last updateTue, 30 May 2017 5pm

Food & Wine

Humble shortbread cookie appears around the world, but with local twists

Humble shortbread cookie appears around the world, but with local twists


Blanche Shaheen/Special to the Town Crier
Ghraybeh shortbread cookies use sweet-tasting ghee in lieu of butter.

 

When Americans think of the shortbread cookie, they often imagine the traditional Scottish cookies, shaped like oblong rectangles and ...

Readmore

Loading...

Your Health

CSA connects families with fresh, nutritious food

CSA connects families with fresh, nutritious food


Courtesy of Community Services Organization
CSA staff load groceries to take to Castro Elementary School as part of a new outreach program for children and families enrolled in the free and reduced lunch programs at Castro and Mistral schools.

Maureen...

Readmore

Loading...

Your Home

Healing art: Restoration 'doctor' preserves damaged objects

Healing art: Restoration 'doctor' preserves damaged objects


Photos by Megan V. Winslow/Town Crier
Art restorer Rho Brown performs delicate preservation work in her Los Altos studio, above. Once fully restored, below left, it’s difficult to tell which cherub was previously missing its head. Brown’s studio conta...

Readmore

Loading...

On The Road

American muscle in the modern age: Bolting to Blackhawk in the Chrysler 300S

American muscle in the modern age: Bolting to Blackhawk in the Chrysler 300S


Photo by Gary Anderson/Special to the Town Crier; Bottom Right Photo courtesy of Chrysler
The Andersons recently drove the new Chrysler 300S to Danville’s Blackhawk Museum, where they saw “The Spirit of the Old West” exhibition.

 

When you have a p...

Readmore

Loading...

Senior Lifestyles

Local pianist performs, volunteers and finds 'keys' to a good life

Local pianist performs, volunteers and finds 'keys' to a good life


RAMYA KRISHNA/TOWN CRIER
Doreta Strotman performs the classics with her signature jazz-style improvisations at Los Altos Grill Sunday evenings. The Mountain View resident has been playing since the age of 4.

Sunday evenings, Doreta Strotman’s job is to...

Readmore

Loading...

Wedding To Remember

Ring options on Main Street range from traditional to unorthodox

Ring options on Main Street range from traditional to unorthodox


 

With nine fine-jewelry retailers concentrated along the Main Street corridor, downtown Los Altos offers a wealth of options for engagement and wedding ring shoppers. From one end of Main to the other, the choices range from the traditional to t...

Readmore

Loading...

Your Kids

Living Classroom grows lessons for next-gen science standards

Living Classroom grows lessons for next-gen science standards


 

Providing local students with a tangible outdoor learning experience, the Living Classroom program aims to support a new generation of students who are excited about the environment.

The Living Classroom serves 9,000 students locally in the Los ...

Readmore

Loading...

Back to School

Loading...

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.

Schools »

Schools
Read More

Sports »

sports
Read More

People »

people
Read More

Special Sections »

Special Sections
Read More

Photos of Los Altos

photoshelter
Browse and buy photos