529 plans
Notable 2024 Tax Law Changes
Each year brings adjustments to the US tax code, and this year is no exception. Some specific changes which could be helpful to you are as follows: Leftover funds in a 529 education account can now be rolled over into a Roth IRA. This reduces the concern about over-contributing to a child’s or grandchild’s 529…
Read MoreBack to School: Getting the Most from Your 529 Plan
If you have college-bound children or grandchildren, it’s worth learning about 529 plans. These tax-advantaged savings plan for college expenses are named for the internal revenue code section authorizing their use. 529 plans invest after-tax dollars, ideally to grow for several years before the funds can be withdrawn tax-free, if used for qualified education expenses.…
Read More