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“Dear Parents, Do Not Fill Out FAFSA & CSS Until You Fully Understand The Very Complicated Rules of Financial Aid and IRS Tax... “ How to avoid the deadliest mistakes in applying for college financial aid? Parents, do you fit in any of the financial situation below: • High Income with High Assets • High Income with Normal Assets • Low Income with High Assets • Didn’t get or only got some financial aid after you submitted FAFSA/CSS Parents, when you fill out FAFSA “as is”, for sure, you cannot get college financial aid.
Our Suggestions: 1. If your family income is over $300,000 and you only have one child or two children four years apart---you should focus on saving taxes by setting up a Family Foundation. 2. For the rest of the families, please don’t fill out FAFSA with an “as is” financial situation. You should listen to a financial aid professional’s audio to understand the basic rules of Financial Aid, then position your family’s net income MAGI & net assets accordingly before filling out FAFSA/CSS. http://www.4089962002.com/Audio_Clips.php Parents, without preparation, for sure you cannot get college financial aid. Michael Chen College Financial aid & Tax Planning Specialist, Finacial Planner
When we make college more affordable, we make the American dream more achievable. (Bill Clinton) izquotes.com
Sucessful Cases: Case 1: Family Income over $300,000 An engineer’s family, after exercised its stock options (RSU), had income over $400,000. After setting up a Family Foundation, they saved $50,000 in taxes and can use this $50,000 for their retirement and for college. Case 2: High Income with Normal Assets An IT engineer’s family had a W-2 income around $200,000. As most parents, they never thought they would qualify for financial aid, through our FinAid tax planning, they have reduced $100,000 net AGI income. Each year they receive $40,000 financial aid and also $34,000 tax refund. Case 3: Low Income with High Assets A business owner with 5 rental properties had filled out FAFSA on their own and their application for financial aid was rejected. After getting planning, help and guidance from us, their child received $30,000 financial aid from UC’s and saved $120,000 for four years. Consult with us to avoid making mistakes. We are the #1 Financial Aid and Tax Planning specialist! Our email: michaelchencfp@gmail.com Phone: 408.246.6900
S I L I C O N VA L L E Y I M P R E S S I O N S | M a y 2 0 1 6 SVIspring2016.indd 7
5/6/2016 5:00:13 PM