If you’re a new parent, paying for your child’s education may seem impossibly far away, but opening a 529 Education Savings Plan now will be beneficial when they are ready to attend.
Distributions from an education savings plan may be used at generally any college or university, as well as up to $10,000 per year at any elementary or secondary school. Qualified Education Expenses include tuition fees, room and board, and mandatory fees.
TAX BENEFIT: Distributions from 529 Education Savings Plans used for qualified education expenses are tax-exempt.
Call 805-496-2828 for more information about 529 Education Savings Plans and tax implications.
