Are there any special Education Savings Accounts that you should know about?
Coverdell Education Savings Accounts (Coverdell ESAs) allow for educational expenses.
Contributions are tax-deferred but are not tax-deductible.
Contributions are limited to two thousand dollars ($2,000) per year and are subject to Modified Adjusted Gross Income limits.
Contributions must be made prior to the student’s eighteenth (18th) birthday.
Unlike five twenty-nine(529) Plans, which are used for post high school education expenses, ESAs can be used for K through twelve (K-12) education expenses.
If established when a child is very young, a substantial investment can be achieved.
Examples of qualifying K through twelve (K-12) expenses aretuition, academic tutoring, books, supplies, equipment, computers, internet access, and required uniforms.
We Can Help. Call us TODAY at (435) 655-0508!
To find out more about how to use videos like this to attract your ideal client through digital marketing on the internet, click here.