by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Sep 27, 2023 | Tax Planning
A Crummey Trust is one of several methods of accumulating assets for a child’s education. It’s most helpful in cases in which the value of the assets is large and the complete distribution of them to a child before age 21 is undesirable. Crummey Trusts offer an...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Sep 17, 2023 | Tax Planning
A Coverdell Education Savings Account (CESA) is a trust or custodial account set up to pay the college expenses of a designated beneficiary without ever incurring a tax liability on the earnings in the account. CESA’s involve two parties: a custodian, who manages the...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Sep 8, 2023 | Tuition Assistance
When companies compete for the best employees, the quality of their benefits packages is a key differentiator. Prospective employees look for a comprehensive package that will improve their financial condition and help them prepare for the future. An IRS Section 127...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Aug 28, 2023 | Financial Aid
In addition to the Free Application for Federal Student Aid (FAFSA), some college-bound students complete another application called the College Scholarship Service Profile (the Profile). The Profile is required by 240 colleges and a number of private scholarship...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Jul 24, 2023 | Exams
Experts in higher education have long criticized the Advanced Placement (AP) program, but few have been as scathing as John Tierney, a professor at Boston College. In an article in Atlantic Magazine, he said, “Fraudulent schemes come in all shapes and sizes. To work,...
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