529 Savings to Include Elementary Education

529 Savings to Include Elementary Education
Posted on 06/08/2018
This is the image for the news article titled 529 Savings to Include Elementary EducationAs you may be aware, changes to 529 plans have resulted from the new Tax Cuts and Jobs Acts passed last December. 529 plans are tax advantaged savings plans designed to encourage saving for future college costs. The changes made in December have expanded to provisions under 529 plans to include elementary and secondary school expenses. This means that parents of elementary and secondary school students can now use a 529 savings account plan for Catholic school expenses without being taxed. According to the revisions in the acts, parents will be able to withdraw up to $10,000 per year tax-free for elementary and high school expenses, including tuition and books. CLICK HERE for more information.
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