The Coverdell IRA Savings Plan
This plan allows you to save up to $2,000 per child annually in a
tax-deferred account. Compounded over several years, these earnings could
contribute significantly to college costs. In addition, tax-free withdrawals
are allowed for a variety of qualified education expenses, including elementary
and secondary school tuition, uniforms, books, and computers.
Not everyone can contribute to a Coverdell Plan. If you exceed
certain income limits you may not be allowed to contribute.
Note that contributing to both a Section 529 plan and an Education
Saving Account utilizes the annual gift tax exclusion. Contact
us to find out if you qualify for this valuable education
planning program.
Securities and advisory services offered through National Planning Corporation (NPC), Member
FINRA/SIPC,
a Registered Investment Advisor. Warren Steinborn Associates and NPC are separate and unrelated companies.
See “Home Page” for full disclosure statement.
|