Scott petrucci, chfc

College Planning

college planning

How does a student get to use tax-free money to pay for expenses?

The federal government set up the 529 Plan legislation in 2001 and tax-free distributions were made permanent in 2006.
 
Scott’s office sets up 529 Plans and helps parents navigate the details to ensure the tax free nature of the distributions.
 
Recent legislation allows for these plans to cover expenses from K through college.
 
A very recent new law now allows unused dollars to be converted to Roth IRAs.
 
The devil is in the details so be sure to consult a knowledgeable planner like Scott.

Investors should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing.

Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investment in any state’s 529 Plan.

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