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Saving for college: Coverdell vs. 529

MEMPHIS, Tenn. — September is College Savings Month in Tennessee, so how much do you have set aside? Saving can be tough for many families in this post-recession economy. 566 more words


Looking into Solutions for College Funding? Basics of the 529 Plan

“However, the named beneficiary isn’t the only one who can take advantage of what’s been saved up in his 529 plan. If your child who is the beneficiary chooses not to go to college, the account owner, or you, the parent, can change to any immediate family member who will go to college, or even to descendants of the named beneficiary. 55 more words

"529" Plans - Keep Your Receipts

A client recently asked me how to make sure that money moved from a 529 college savings account to a student’s checking account would be viewed from an IRS perspective.  404 more words


Unused 529 Contributions

From time to time concerned parents share that they don’t want to save toward college in a tax-free 529 savings plan because they don’t want to incur any penalties if their child gets a full scholarship or doesn’t use all of the savings in the plan account.  212 more words