529 Day: Expanded Benefits for 529 Plans
Did you know that May 29th is recognized as National 529 College Savings Plan Day? In recognition of 529 day, we wanted to share some of the expanded benefits of 529 plans due to the recent tax code changes.
"529 plans were originally designed to help prepare for future college costs by offering tax-free growth and tax-free withdrawals when the funds are used toward qualified higher education expenses. However, the recent change in tax code expanded the benefits of 529 plans to allow tax-free distributions for tuition expenses for private, public or religious schools of up to $10,000 per year."
To read more about funding strategies for K-12 private school tuition, read this article: 529 Funding Strategies for K-12 Private School Tution by Savingforcollege.com