Utilizing the benefits of a 529 tax plan
The colloquially named “529 tax plan,” or Qualified Tuition Program, is a useful and common method for families seeking to save for future college expenses. It is important to understand what kinds of income and programs qualify under the Internal Revenue Service’s Section 529 because of the unique value of 529 tax plans. Specifically, taxpayers can set aside money for “qualified higher education expenses,” which generally includes tuition…
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