Individuals who have set up 529 plans need to be aware of recent changes to the plans.
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9 Keys to Education Planning
Whether your children (or grandchildren) are 2 or 20, there’s one big thing probably weighing on your mind: How to pay for college. You’re not alone. According to recent studies, 42% of parents surveyed say their top money concern is paying for their child’s education.
The figures are daunting. Estimates project the cost of yearly tuition at a private college will be over $130,000 per year by the time today’s grade schoolers reach college. The key to tackling these overwhelming figures is to have a strategy and long-term approach to saving for higher education. read more…
Use of Section 529 plans now available for elementary and high school tuition
High school and elementary school tuition can now be paid through a 529 savings plan.
For many families, use of Section 529 plans or “Qualified Tuition Programs” for college tuition planning has provided a great way to exempt the growth of a dedicated asset account when used for qualified education expenses.
The 2017 Tax Cut and Jobs Act made changes to this tool to allow for up to $10,000 in annual expenses for tuition with enrollment or attendance at a qualified elementary or secondary public, private or religious school.
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Child Heading Off to College Soon? 3 Important Lessons About 529 Plan Withdrawals
Many of my clients have a child heading off to college in a month or two and have asked about 529 Plan withdrawals to help cover upcoming education expenses.
Contrary to what some may think, not all withdrawals are tax-free. Therefore, it is important to understand the basics of 529 plan distributions to avoid paying unwanted federal income tax. While it can be confusing, much like venturing into a college classroom, we’ve broken it down into three simple lessons.
Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
Important Changes to the Deductibility of Employer-Provided Meals
On Jan. 1, the One Big Beautiful Bill Act (OBBBA) significantly tightened the rules on the tax deductibility of employer-provided meals. If your business has historically relied on deductions for meals and food-related benefits, these changes require immediate...
U.S. Customs and Border Protection Launch CAPE Tool for Tariff Refund Claims
U.S. Customs and Border Protection (CBP) has launched the Consolidated Administration and Processing of Entries (CAPE) tool to help importers and customs brokers claim tariff refunds following a landmark Supreme Court ruling. If your business paid IEEPA tariffs in...
Trump Accounts: The Future of Tax-Efficient Retirement Savings
Trump Accounts are a new type of tax-advantaged retirement account for minors, established under the One Big Beautiful Bill signed into law on July 4, 2025. With contributions of up to $5,000 per year and a potential $1,000 government seed contribution for eligible...
DOL Proposes New Independent Contractor Rule
What Employers and Workers Should Know The U.S. Department of Labor’s Wage and Hour Division announced a proposed rule intended to clarify when a worker is an employee and when the worker may be classified as an independent contractor under the Fair Labor Standards...
USPS Postmark Changes
A Tax Filing Risk Alert for Taxpayers For decades, many taxpayers have relied on a simple rule of thumb: if it is in the mail by the deadline, you are fine. However, recent U.S. Postal Service (USPS) clarification makes that assumption riskier. On Dec. 24, 2025, the...
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