DP Financial & Tax

As a parent with young children, you are faced with many rewards and challenges. One of those challenges may be saving for the high cost of a college education. However, there are two tax-favored options that might be beneficial: a qualified tuition program and a Coverdell education savings account. In addition, you might also want to invest in U.S. savings bonds that allow you to exclude the interest income in the year you pay the higher education expenses. Each of these opt

You know that 529 plans are designed to help you secure funds for higher education. However, the details of plan withdrawals might raise a few questions. If you aren’t careful, the withdrawals may be taxable (even in years with substantial college costs)! Distributions are tax free if, and only if, they are used to pay Qualified Higher Education Expenses (QHEEs). Qualified withdrawals include tuition, fees, books, computer technology, and Internet fees. Special needs equip