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Пікірлер
@joeintern 17 күн бұрын
She mentions a fraternity or sorority NOT being covered... but 529 does cover room and board, even when off campus (which she then mentions again later in the video). This could have been more clear. Maybe she is referring to some kind of fees outside of room and board?
@instabloksuncare808 Ай бұрын
How many days after funds have been deposited into the 529 can they be withdrawn? As soon as they settle?
@fixagent81 2 ай бұрын
The 15 year rule is a game changer in my opinion good or bad is open to debate
@fixagent81 2 ай бұрын
Does it make sense to add a beneficiary being your child onto the 529 plan given the new rules?
@Jc_22mls 2 ай бұрын
Do the meal expenses qualify?
@fixagent81 2 ай бұрын
From my understanding they do I could be wrong but I think it comes with possibly saving your tax in case you get audited
@joeintern 17 күн бұрын
Yes, from my understanding as well. She even mentions that room and board, even when living off campus, are covered. I am keeping credit card receipts and individual receipts, when possible, and saving them in a digital folder and linked in a spread sheet of expenses. It is tough for the student to keep every receipt, in my opinion, however.
@rickjohnson7230 4 ай бұрын
Nice Job
@jonathanrabbon2890 6 ай бұрын
Best 529 advice for considering multiple children “align the investment with the goal you want to reach”. Plus in 2024, 529’s can now be converted to retirement accounts for unused funds. I like the idea of teaching my children (2; 2.5y/o, and 4mo) the power of compound investing. Then they can choose how much to spend now for college vs invest for retirement. Going to be a great conversation in 10+ years haha!
@ManaAndhra-o5y 10 ай бұрын
Wonderful info!!
@snakesnakefishfishchannel586 Жыл бұрын
I was wondering is the legally plan called Five twenty nine or Five two nine?
@dukebozikowski3801 Жыл бұрын
So they cover the program but what about food, travel, etc
@IanBaker Жыл бұрын
if they get a scholarship for 10K. can i take out 10k of gains and have no penalty or 10K on total distribution?
@amahic Жыл бұрын
Thank You! very helpful
@chirayu781 Жыл бұрын
You do to much effort. You deserve more❤
@tongtongwang Жыл бұрын
can I only withdraw the contribution portion NOT the earning portion? Thanks
@tongtongwang Жыл бұрын
can I only withdraw the contribution portion NOT the earning portion? Thanks
@fishincognito Жыл бұрын
Question - If I get a 1098-E in my name as parent for my child’s student loan. but I no longer claim my child as a dependent - can either one of us take the deduction on our returns?
@first9299 8 ай бұрын
Yes assuming this is a parent plus loan that you took in your name the student loan belongs to you even though it was to fund your child's education.
@fwsalgado Жыл бұрын
Great advice!
@Ricardo-xp3uj Жыл бұрын
Promo_SM
@suzannemistretta9275 Жыл бұрын
very helpful. Thanks
@handsome567 2 жыл бұрын
I have the FL 529 but I think I’ll open the NY 529 plan too.
@ericag7991 2 жыл бұрын
ρɾσɱσʂɱ 😁
@kipokerfan 2 жыл бұрын
The slides go by so fast and all info is in text. This makes the info hard to consume. Narration would help.
@drwrap3431 2 жыл бұрын
If my daughter is currently in private school, can I put her monthly tuition in a 529 plan and then withdraw it every month. I'm trying to figure out how I can write off the cost of her education.
@sloth61 2 жыл бұрын
My son is a freshman in high school this year. He’s graduating from HS in 2025. Should I sign up for MyCAP now or should I wait until next year?
@emilyacoxpsychic 2 жыл бұрын
I just got that form after I paid off a student loan debt and mine says $19,600! Can I hire an attorney to get me that full amount since there’s some kind of $2500 cap?!
@howtomedicalvideos6597 2 жыл бұрын
yes the IRS will make an exception for you if you hire an attorney
@EMVelez 8 ай бұрын
@@howtomedicalvideos6597Lol
@papabear4066 2 жыл бұрын
Not explained efficiently. I don’t get it
@Joee18 3 жыл бұрын
Thanks for the helpful information!
@FatalXSilencer 4 жыл бұрын
Can i get this if I am enrolled as a freshman but I start college in the fall?
@DeadlyTsuki 4 жыл бұрын
That doesn’t make much sense? If you had an physical class that has to be switched to online does that mean that they don’t get the grant?
@illttylloona 4 жыл бұрын
No i think you still get it. i had physical classes and had to move online bc of the you know what, and my school sent me an email saying i should be expecting it soon.
@DeadlyTsuki 4 жыл бұрын
- I got an email too! but that was in April or March idk. I hope it gets to you in good timing. :) I miss physical classes a lot lol
@illttylloona 4 жыл бұрын
@@DeadlyTsuki Same!! I findmyself so unmotivated to do any work online like i need to be in classes T_T
@DeadlyTsuki 4 жыл бұрын
- 😪 EXACTLY! I still hope your able to turn in some work and get great grades! 🤣 even tho it is hard
@jgarb21 5 жыл бұрын
Did Congress extend the plans for K-12? And this extension was for more than just tuition, but expenses also for K-12.
@Unplugged704 6 жыл бұрын
So the 529 account should be opened in the parent's names?
@CharlesGervasi 6 жыл бұрын
Thanks. It assuaged my fears that we'll pay a large penalty if for some reason we don't use the money for an allowable purpose.
@dannymantra8569 6 жыл бұрын
I think the lady is a voice from sister loaction
@dannymantra8569 6 жыл бұрын
Location
@lindaasongayi2662 7 жыл бұрын
How many beneficiary can a parent put at once on a 529 plan? I have 2 kids.can I put all of them at once as beneficiary on the 529 plan?
@lindaasongayi2662 7 жыл бұрын
How many beneficiary can a parent put at once on a 529 plan? I have 2 kids.can I put all of them at once as beneficiary on the 529 plan?
@MultiTheTyler 8 жыл бұрын
Let's say the reason money was left over in the 529 was because the child received scholarships. If you (or your child) were to withdraw the funds many years later, would the "scholarship exception" still apply for tax purposes?
@DrHogfan 8 жыл бұрын
My wife is having trouble doing our taxes because my daughter has some partial scholarships and we used 529 money to cover remaining expenses.
@lucci6142 8 жыл бұрын
This can all be condensed into a short document. No need to spend 1 hr when this information is in so many places.
@jankospalace 9 жыл бұрын
A through Z -it gets withdrawn from my checking account every month. I have already paid taxes on the money in my checking account. You can withdraw all the money out of the 529 anytime you want without a tax penalty. You do however have to pay the taxes on the interest that you will accumulate if you withdraw that money in addition to the money you contributed.
@jankospalace 9 жыл бұрын
Hey how is a 529 tax free? I have $100 per month get automatically withdrawn from my checking account from PA 529. I have already paid taxes on this money. Am I missing something here?
@orion3706 9 жыл бұрын
Im about to open one for my daughter. When the money is withdrawn, there are no more taxes to pay.
@BrightNoise 9 жыл бұрын
Great video indeed quick question at what point and how much does one need to invest for that 10% fee to not look so bad. Just seems like a great opportunity for my children and I am a subcontractor with no 401 benefits excetera. I feel this will ensure for my kids education but what if he decides not to? I suppose the money is his and he can do what he wants penalty or not haha lol
@Sulfen 6 жыл бұрын
At the rates these days you'd need to wait 2-3 years before the 10% fee is negligible. Most of these plans are performing at 4.0-5.4% a year. So it doesn't matter how much you invest but how long you invest it for before you take it out.
@TheJockepete 9 жыл бұрын
NICE
@jeffschreiber7732 10 жыл бұрын
No Tax on 529s! Terrible idea, President Obama! Congress please defeat this proposal.
@PaulCurleyBC 10 жыл бұрын
Great video Joe!
@garybsg 10 жыл бұрын
thanks, that was very clear
@javieralba4943 10 жыл бұрын
Another alternative to any of these plans is a fixed IUL. No income limits, no maximum/minimum contributions, no age restrictions, tax-deferred growth, tax-free access. What if, however, the child chooses, or for whaever reason does not attend college? The biggest advantage with the IUL is the money can be used for ANY purpose, not just college funding. How about a tax-free retirement plan? YES! contact your insurance agent or visit www.retirementshelter.com.
@DisgustedTF 10 жыл бұрын
Great informative webcast - thank you! Unfortunately you didn't get to my question but I hope to find an answer through one of the sites.
@mvg75 8 жыл бұрын
+Tati Feige at 510 for oak
@EddiePradel 11 жыл бұрын
Pick a 529 plan and then check out GradSave.com. GradSave makes it easy to save for college by helping you build a community of friends and family who can contribute to your 529 plan with a few click of the mouse! Easy-peasy!
@jamesredick5759 11 жыл бұрын
what proceedure is necessary to with draw funds from the 529 account