529 College Savings Accounts

December 17th, 2018

capture2For Ohio residents, deductions for 529 College Savings plan contributions are increased to $4,000 per year, per beneficiary (student) with contributed amounts above $4,000 carried forward to future years.

529 College Savings Accounts can now be used to pay up to $10,000 of tuition for grades K-12.

Strategy for clients paying tuition for K-12: Contribute amount of tuition, up to $10,000 per calendar year, then withdraw it to pay for K-12 tuition in the current year.

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