College is costly. According to data, the average cost of tuition, fees, housing, and board for the 2019–2020 academic year was $30,500. College Planning using tax code features can assist you in meeting the costs.
Some planning options will provides indirect tax benefits. The earnings are exempt from federal income tax. Thus you will be allowed to make Tax-Free Withdrawals pay for qualified education costs.
One of the most valuable presents you can offer a child or grandchild is a college degree. While it is preferable to begin saving at a young age, we can assist parents of students of any age in developing strategies for college planning.
It's critical to understand the types of accounts used to save for college expenses. SAG can assist you in determining which is appropriate for your needs.
We'll assess the situation in the following areas:
There are a variety of strategies regarding saving for college. Our highly recommended solutions provide a tax benefit to you.
To discover how much you should be saving for college regularly, contact us, we are your trusted advisers. Or initiate services by clicking the button below and completing the below engagement letter.