The IRS views interest on a savings account as earned income, whether it's $1 or $1,000. So, if you received interest on a ...

Key Points ・Funding a 529 plan with gifts is a fantastics way to save for college. ・Gift tax rules allow up to $19,000 per ...

American families looking to go down the fee-paying route can use tax-advantaged 529 College Savings Plans to pay for their child’s education.

By opening a 529 plan, you may be able to reduce future out-of-pocket costs and get a tax break on your state income tax return. You aren't necessarily limited to your state's 529 plan ...

Depending on where you reside, choosing your state's 529 plan may offer additional tax benefits, but you can also expand your search to look at other state's offerings. Shop around for a plan ...

Fortunately, this penalty doesn’t apply under certain circumstances, such as when the beneficiary receives some form of tax-free educational assistance. A 529 plan is a tax-advantaged account ...

Commissions do not affect our editors' opinions or evaluations. Picking the right tax software can mean the difference between a smooth refund process and a stressful filing season. To find the ...

To counter the high costs of raising children, Congress has sprinkled various breaks for parents throughout the tax code. But you need to know where to look and to compare benefits. Funding a ...

You can use tax-advantaged savings accounts to pay for college costs, and new rules let you roll over unused money in a 529 college savings plan into a Roth IRA under certain conditions.