Many parents with good financial means already know about 529 plans: the tax-advantaged plans “designed to encourage saving for future college costs,” sometimes known as “qualified tuition plans,” according to the website SEC.gov.
New Tax Law Expands 529 and ABLE Plans
Submitted by Bernhardt Wealth Management on March 19th, 2018In addition to almost doubling the personal exemption and providing breaks to businesses, the new tax law signed by President Trump in December contains a provision that could be very helpful for parents and grandparents who are trying to fund a child’s education or pay for a disabled child’s care.