By: Oxana Saunders
In a past blog, we wrote about 529 college savings plans as one of the tax efficient ways to start funding children or grandchildren college tuition. With the recently passed tax bill, parents can now use 529 plan savings to pay for private elementary and high school tuition as well.
While 529 contributions cannot be deducted on the federal tax return and Florida does not have income tax from which contributions can be deducted, all growth is tax-free.
For more details on recent changes to 529 college saving accounts, click on the SavingforCollege.com image below.
Oxana Saunders is the Vice President of Path Financial, LLC. She may be reached at 941.894.2571 or firstname.lastname@example.org