Beach Boyd's Grants

Boyd Family grants to grandchildren

• • Foundation can pay 1/3rd 

  • Unusual medical

    • Braces, accidents, etc

    • Therapy

  • Parents to request money

Activities

• • • Dance, camps, sports, physical, mental, social or any experience that improve their lives

    • Other possibilities where help might be needed:

      • Death of a spouse

      • Serious ongoing Medical needs

• Grant application process to seek for funding

  • Form - Boyd Foundation application for financial assistance 

  • B&T go out to lunch to discuss, 

  • B&T gives actual green cash to grandchild, not a transfer to parents.

• • Future considerations

    • By the time great grandchildren are here, the grant money will be given to J,K,L,M,J to work with their grandchildren.

    • $1,000 limit per grand child per year

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• How to pay for Medical expenses:

FSA - Flexible Savings Account. Lowers Federal & State taxes

• • Use it or lose it. (has a $500 yearly roll over exception). 

• HSA - Health Savings Account. Lowers Federal taxes. ($7,300 - 2022) but must have a high deductible health insurance plan.

  • Never lose the deposits

  • Can only be for dependents. 

• MSA - Medical Savings Account. Lowers State taxes ($20,000 in Idaho) can be done without exception.

  • Never lose the deposits

  • Can only be for dependents.