Coverdell education savings

A coverdell education account can help you invest for your child’s education

College tuition is tax deductible

Is college tuition tax deductible? Yes, you can reduce your taxable income by up to $4,000

Plan 529

8 Common Misconceptions About 529 Plans

To learn about the investment options, fees, and other rules on state 529 plans, go to:

To learn about private 529 plan by private colleges and universities, go to:

For 2018 through 2025, funds in 529 plans can be used for tuition at private or religious primary and secondary schools (grades K-12) up to $10,000 annually. The dollar limit applies per student.

Qualified tuition programs can be used effectively for estate planning purposes. A wealthy grandparent can fund an education savings for a grandchild with little or no gift tax cost. You can make a sizable contributions in one year, treating the contributions as being made equally over 5 years. Now the annual gift tax exclusion is 15,000 dollars in 2019 (30,000 dollars for married persons making joint gifts). That means, both grandparents can contribute up to $150,000 dollars to a state savings plan for their grandchild! There will not be taxable gift in this transfer.