StraightLine

Happy 18th Anniversary to Dennis Raffin!

We're so glad to have you on the team, here's to another great year!

Happy Birthday to our StraightLine staff with September birthdays! 🥳

Melissa Staley
Kyle Zammit, CFP®,ChFC®,AIF®

Celebrating 22 years with Jason Fisher!

Thank you Jason, for 22 years of you and all you bring to the team. Happy Anniversary!👏🎉

We are proud to announce Mike Bisaro will be speaking at the Investment Adviser Association Policy & Leadership Forum next week! Mike will take the stage for a panel discussion: The Retirement Puzzle: How the Pieces Fit for Advisers and Their Clients.

In addition, Mike and Elizabeth Bisaro will be heading to Capitol Hill to meet with lawmakers and their staff to advocate for our industry.

To read more please see link in the comments!

This week’s Financial Snack brought to you by Rob Rickey!

Can my adult child open their own HSA while still on my health insurance?

Yes. This is often referred to as the “Adult Child HSA Loophole.” It’s a legitimate tax strategy based on current IRS rules governing HSA accounts. It means an adult child, under 26 and covered by their parent’s family high-deductible health plan (HDHP), may be able to open their own Health Savings Account (HSA) and benefit from its triple tax advantages.

To qualify, the adult child cannot be eligible to be claimed as a dependent. The IRS uses tests that include factors such as age, support they received, gross income, and student status to determine whether a child still qualifies as a dependent.

If they are not eligible to be claimed as a dependent and otherwise meet the HSA eligibility requirements, they can generally contribute up to the full 2026 family HSA contribution limit of $8,750 to their own HSA, even while still covered by the family plan.

Questions to Ask Yourself:

✔️ Are we using a qualified high-deductible health plan with an HSA that covers my adult child?
✔️ Does my adult child fail the IRS dependency tests, including age, support, income, and student status, to file taxes independently and open an HSA?
✔️ Have I talked with a financial or tax professional about how this strategy fits our family’s overall goals?

See our blog Is Your Adult Child on Your Family Health Savings Plan? You May Be Missing an Opportunity linked in the comments for more information.

If you want to explore how the Adult Child HSA Loophole could benefit your family, please Contact Us, call 248-269-8366 or visit the link to our blog in the comments!

Starting XI

Join us in celebrating 21 years of working with Doris Karras!

Here’s to 21 incredible years and more to come! 🎉

Mike and Elizabeth Bisaro spent a very special evening at the Legacy of Magic Gala! ✨

Hosted by , the gala was held in honor of Magic Johnson and his family to celebrate their impact on the Lansing community.

From inspiring stories to the announcement of the new Earvin “Magic” Johnson YMCA, Mike and Eizabeth were honored to be in the room to celebrate this incredible legacy.

August is Make a Will Month. 📝

Creating a will is one of the most important steps you can take to help protect the people and things that matter most to you. But knowing where to start can feel overwhelming.

That’s why we’ve created an Estate Planning Checklist & Worksheet to help you prepare for a conversation with your financial planner.

Use it to organize your thoughts, identify important questions, and make the most of your planning conversation.

Want a copy? Comment “CHECKLIST” in the comments below and we’ll send it your way.

Planning to use your money for a major purchase in the near future?

“If you plan to make a down payment on a house in eight months, that money shouldn’t be in the stock market,” StraightLine President and CEO Mike Bisaro told CNBC.

Mike also cautioned against moving completely to cash because doing so introduces the challenge of deciding when to reinvest. As he asked, “Who’s to say when that will be?”

Read more in the CNBC article linked in the comments!