Tax Credits and Deductions

The recent tax bill that went into effect this year included a change allowing parents to use up to $10,000 annually from a 529 account to pay for private high school expenses. Parents considering taking advantage of this provision should weigh another consideration besides whether or not they have saved enough in their 529 to pay for high school in…

Did you make a New Year’s resolution to save (or save more) for college? If so, you may be increasing the odds that your student will attend and graduate. Research shows that, across income levels, students who have savings designated for college are more likely to attend and graduate. Overall, the study showed that children who were “expected” to

The final version of the tax bill has some changes to the education-related items that caused a bit of an uproar in previous versions. Here is a quick summary:

Both versions of the tax bill– House and Senate– include changes to education tax benefits. One area of both change and confusion is college savings plans. The bills aim to consolidate some of the education plans: loans, tax credits and tax-preferred savings accounts.