We are all aware of the recent tax overhaul that President Trump and his administration have put in place, but were you aware of the 529 education-savings accounts and how they have benefited greatly from the recent overhaul? The Wall Street Journal has written a fantastic article on the accounts.
Here is an excerpt:
“So-called 529 education-savings accounts, and Americans who can benefit from using them, are big winners in the recent tax overhaul.
New curbs on state and local tax deductions will make these tax-sheltered accounts more attractive. Many people will also benefit from a change that now allows assets in these plans to be used to pay elementary and high school tuition.”
To read the full article, click here.