College Funds (529 Plan)

Q&A
Asked by tkels1
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi tkels1 Great question. They are both very popular plans. The Education IRA is now called a A Coverdell Education Savings Account (ESA). On 529 plans or col...
Q&A
Asked by Dennis
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
Interesting question, however, the use of 529 plan assets - tax-free - are narrowly defined and financing costs are not one of them. For example, you cannot use 529 p...
Q&A
Asked by Mary
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
Hi - The annual gift tax exclusion allows you to give $14,000 per year to any one person without filing a gift tax return. A married couple who "join" in the gift ca...
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Q&A
Asked by Martha
Answered by Winnie Sun, Financial AdviserPRO+ in Irvine, CA
Hi Martha, Thanks for the question. In order to utilize 529 funds for higher education purposes, the IRS does want to make sure that you are attending school at least...
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