Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...
With many tax benefits available for education, it is evident that the government is interested in making higher education open and more accessible for many people. It can be...
Everyone that needs to pay for school fees using Coverdell ESA or 529 will likely get Form 1099-Q from the IRS. This reveals the entire withdrawal made in the year to cover your school...
529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
We want to remind you of the federal education tax benefits you may be eligible for. Making the most of these tax benefits would help reduce spending on higher education.If you're...
Posted by Carmen Garcia on 07/24/2020
Much has been circulated to use an IRA, particularly a Roth IRA, as another type of college savings account. The basis of this idea is that you can avoid the 10% penalty for early...
Posted by David Macgregor on 05/18/2020
Nowadays, education is quite expensive. The average cost of a four-year course on public university at the present is about $75000 which indicates that you can anticipate a doubled...
Posted by Tim Thompson CPA PLLC on 04/03/2020
Parents allocate benefits for their children and in order to do so, they will use personal finance tools such as a 529 plan and a custodial account. There are differences between the...
Posted by YourIRSTaxAdvocate.com on 09/30/2019
A 529 plan and a custody account are personal financial tools that parents use to help their children. The 529 plan includes an investment vehicle designed to raise money for your...
Posted by John Pournaras Agency on 09/26/2019