Updated Rules Make Grandparent Owned 529’s More Attractive

Category: Education Funding

September 29, 2015  |  

Updated Rules Make Grandparent Owned 529’s More Attractive

Key Takeaways: New tax law change makes grandparent-owned 529 plans more attractive than ever. Grandparent-owned 529 plans can now be used to fund the final two years of college–not just the final year–with no detrimental impact on the grandchild’s financial aid package. Consider all of your college savings options carefully before investing. Don’t hesitate to […]

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July 1, 2015  |  

Know Someone Who Just Had a Baby? Let the Planning Begin!

Time goes fast when you’re a new parent. As I mentioned in a previous blog, my wife and I were expecting our first child in April. We were anticipating mid-April, but (much to my wife’s dismay) it turned into late April. My son Archie was born on April 28th, a happy and healthy little boy. A lot has changed in our lives during this time, and it’s all been a blur.

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March 27, 2015  |  

Using 529 Plans for College Funding – Part 1

Key Takeaways 529 plans are tax-advantaged education savings accounts operated by state or educational institutions. In most types of 529 plans, earnings are tax-deferred while in the account, and tax free when withdrawn for qualified education expenses. Some states, including Pennsylvania, allow your contributions to be deductible at the state level. As with so many […]


February 18, 2015  |  

2015 Annual Limits for Financial Planning

Key Takeaways In 2015, retirement plan participants can contribute up to $18,000 annually to their 401(k), 403(b), Thrift Savings Plans and most 457 accounts. Savers age 50 and over are able to contribute an extra $6,000 catch-up contribution this year, for a total of up to $24,000. Contributions to Individual Retirement Accounts (IRAs) are unchanged […]

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October 3, 2013  |  

Three Ways Grandparents Can Help With College Costs

Paying directly to the college Tuition payments made directly to a college aren’t considered taxable gifts, no matter how large the payment. But this is true only for tuition, not room and board, books, or fees. Did you know…? If your grandchild doesn’t go to college or gets a scholarship, you can name another grandchild […]

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