529 Plan Saving For College - Fox Business News
September 20, 2016
EisnerAmper’s Wealth Advisors practice was featured on Fox Business News’ The Tom Sullivan Show discussing the merits of tax free college savings plans. “I’m a big fan of 529 plans”, using the IRS shorthand for the popular plans. “Parents can and should start as early as possible. Earnings are tax exempt if used for almost any qualified college expense.” Even grandchildren can be beneficiaries.
529 plans are extraordinarily flexible and can be filed in every state as they all offer the same federal tax benefits. It is important for filers to do some research and screen for performance. We recommend www.savingforcollege.com as a good site to start to do the necessary due diligence.