Two questions: Do you have kids or grandchildren? Are you looking for a way to potentially reduce your tax burden? Your dear Uncle Sam might be able to help by offering education tax deductions. There are a number of different tax benefits for education, but they fall into two general categories: Tax-advantaged college savings plans. […]

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Key Takeaways File a FAFSA for every tax year your child will be in college Understand which assets count toward the expected family contribution (EFC) calculation    Learn some strategies that might help lower your EFC Is college looming for your children? Then it’s time to become familiar with the phrase “expected family contribution” (EFC). […]

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Key Takeaways Growth in a 529 plan is federally tax deferred You can contribute $75,000 all at once without paying the gift tax These accounts can help pay for elementary, high school, or college When you think of investment accounts, an education savings plan may not be the first thing that comes to mind. But if […]

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Key Takeaways Compare the potential tax benefits and contribution limits of college savings strategies Consider using more than one approach to help maximize your savings Inform family members they can contribute to plans When you’re researching how to pay for college, the first step is to realize it’s never too early to start an education […]

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Key Takeaways Learn about the different types of college savings plans Be open and honest with your children about college saving and funding alternatives  Encourage your children to take an active role in the process by taking part-time jobs and pursuing scholarships College is an expensive proposition, so having a plan to pay for your […]

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