Summer Camp and Turkeys
What to Expect From Our Newsletter
I'm excited to launch our newsletter, The Flying Point Update. I promise not to flood your inbox with endless calls to action, SEO-optimized fluff, or AI-generated nonsense.
Every two weeks or so you can expect a short email update with a few sections:
Something that's been on my mind related to accounting, tax, or financial planning that might be relevant to you
An actionable tax tip or planning item
A few important upcoming dates to mark on your calendar
A Maine wildlife fact brought to you by Will and Frank, my two boys
If at any time you’d like to stop receiving our updates, simply unsubscribe or reply directly to the email and we’ll take you off the list.
Let’s dive in.
Top of Mind
Will, my oldest son, is just about to finish 1st grade. Everyone tells you that kids grow up fast, but that doesn’t prepare you for the reality of it. With another school year just about finished, I’m reminded, both as a parent and financial planner, that education planning is no longer just some theoretical future math problem.
To make matters more complicated, higher education tuition continues to increase at staggering rates against a rapidly evolving education landscape driven by AI and technology. What will higher education even look like when my children finish high school? Will the traditional college experience still be a thing?
These are the conversations we're having with clients more and more. The uncertainty doesn't mean we stop planning—it means we need flexible strategies that can adapt as the landscape changes. Whether it's traditional four-year degrees, trade schools, or entirely new forms of education we haven't imagined yet, starting early gives families the most options when decision time comes.
Worth Knowing
School years are wrapping up and summer camps are getting started. We’re big fans of both Through the Trees and Farm Camp at Wolfe’s Neck here in Freeport. Did you know that the cost of summer camp can count towards the Child and Dependent Care tax credit? The Child and Dependent Care Credit can be worth between 20% to 35% of qualifying expenses, with maximum qualifying expenses of $3,000 for one qualifying person or $6,000 for two or more qualifying persons. Be sure to keep your receipts for tax season.
Mark Your Calendar
Q2 estimated tax payments are due June 16th. There is an extra day since June 15th falls on a Sunday. Q2 payments cover the period of April 1 - May 31.
That’s it. June and July are fairly quiet for major tax deadlines.
Maine Wildlife Fact
Nothing about a turkey looks fast. But, did you know that wild turkeys can fly at up to 55 mph over distances as long a quarter mile? That’s even faster than Maine’s beloved puffins, which average around 50 mph. For comparison, most song birds average at about 25 mph.
This Maine wildlife fact has been brought to you by Will (almost 7) and Frank (3), Flying Point Advisors’ on-staff naturalists.
Questions about any of this? Just reach out - I read every email and love hearing from you.
Thanks for reading The Flying Point Update. You’ll hear from me again in about two weeks.
-Mike