New Ways to Use ‘529’ College-Savings Plans This School Year

Apprenticeships now qualify as approved expenses, and leftover money can be used in more ways

By
Leonard Sloane

For many years, “529” education-savings plans have been a tax-advantaged vehicle for parents and grandparents to accumulate funds for a child’s college costs. A new law, enacted at the end of last year, has made these plans even more advantageous.

The Secure Act—which stands for Setting Every Community Up for Retirement Enhancement—covered many changes in federal tax law. One group of changes focused on 529s, providing families with additional options as they plan for the coming school year.

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By |2020-07-03T17:29:54+00:00July 3rd, 2020|Uncategorized|0 Comments

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