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College 101

When it comes to saving the earlier the better, that especially counts for saving for college here are a couple tips to help you stash some cash for something that really matters.

Did you know that there are tax favored accounts that allow you to stash away up to $2,000 for any one child a year, these accounts accumulate tax deferred at the federal level, and earnings are tax free when used for qualified educational expenses like books, supplies and even room and board.

Section 529 Plans - this plan offers some tax favored flexibility and is useful regardless of your age. it allows one to accumulate earnings on a tax-deferred basis. Meaning that the earni

ngs wont be subject to federal income taxes when they are withdrawn again when used for educational purposes.

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