When you hear “529 Plan,” many people automatically think of a savings plan for future college costs. And this is certainly the most widely-used approach for the plan at this time. But did you know this popular savings strategy can also be used to pay for private school tuition grades, K-12? According to Clark.com, “The money grows tax free and is spent tax free for eligible expenses such as tuition, books and fees.”
For those of you with children in private school, or who are considering private school, you know the cost can be significant. And investing in a 529 plan may offer special tax benefits, depending on your circumstances. We’re ready to meet anytime to review tax implications or deductions that may be available based on your financial situation.
If you’re in the market for a financial advisor to help with your savings goals, we also have trusted recommendations in the industry we’re happy to share with you. Call on us at 913.888.9100. We look forward to meeting with you soon.
