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Posts Tagged ‘Tuition’
How to Maximize Your Annual Gifts and Minimize Your Estate Taxes
Annual Exclusion
Taxpayers are allowed to gift up to $13,000 per year to an unlimited number of people without having to file a gift tax return or pay a gift tax. If the amount goes over $13,000 to any one individual, then a gift tax return must be filed. This is done on IRS Form 709, United States Gift Tax Return. Connecticut taxpayers required to file a federal … Continue reading »
How to Plan for College Using The 529 Plan
Next to saving for retirement, your biggest financial challenge is probably saving for your child’s college education. College costs have skyrocketed! People wonder how they will afford the cost of a college education in the future. A 529 College Savings Plan is a very simple way to save money for your child’s college education. The benefits are tremendous. Here are some highlights of the plan:
A College Education is Expensive…Fight Back!
According to the College Board, the average cost of tuition at a public school increased by 6.5% last year. The average increase in tuition at a private school was 4.4%. This put the average cost of tuition, room and board, and fees at $15,213 for the public school and $35,636 for private school.
