College Funds (529 Plan)
Guide
Why Aren't 529 Plans More Popular?
How do you plan to fund your children's education? According to the 2017 Report from Sallie Mae, How America Pays for College, you are proba...
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News
How New Tax Law Changes 529 Plans
The 2017 Tax Cuts and Jobs Act will bring significant changes to individual taxpayers, but states will also be affected by some of the law's...
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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 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...
Guide
Check Before Using Your 529 For Pre-College Education
In 1996, the Small Business Job Protection Act created 529 savings plans: state-administered programs designed to help parents save for thei...
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Guide
Common Mistakes In 529 Plans
Congratulations! You have saved for your child's education using a state 529 plan and built up a decent nest egg to send him or her off to c...
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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...
Q&A
Asked by Edna
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
Hi -
1) He can use the funds for graduate
school or 2) you can transfer the account to
another family member - including yourself -
for college. Lastly, you can ca...
News
44% Of Parents Feel Guilty Over Inadequate College Savings
According to Collegedata.com, the average annual cost of tuition and fees for the 2017-2018 school year was $9,970 at an average public coll...
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