Many parents own houses and may want to pass them on to their children at some point. A common thought is to just add the children’s names to the title of the house. While this might sound like a simple solution, it’s usually not a good idea. At a minimum, it risks causing tax problems […]
Section 529 plans (named after the IRS Code Section) allow individuals to set up an account on behalf of another individual (typically a child or grandchild) that can be used to pay college expenses. A recent law change has also allowed up to $10,000 to be used for tuition expenses for elementary and secondary public, […]
Is a Section 529 plan the right college savings plan for you? 529 college plans. There are many ways to save for college, but one thing is certain: it is never too early to start. One way to save for college is with a “Section 529” plan. These plans offer a way to pay for […]
Emergency Cash Grants for College Students Impacted by Coronavirus Outbreak US Secretary of Education Betsy DeVos has announced more than $6 billion will be distributed immediately to colleges and universities to provide direct emergency cash grants to college students whose lives and educations have been disrupted by the coronavirus outbreak. First wave of CARES Act […]
Does your child, grandchild, or someone else you know need a place to live while attending college? Instead of renting a dorm or apartment, buying a condo or small house might make more sense. This can save money and provide tax breaks, but you need to do the math and be aware of the risks. […]
