by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Jun 8, 2026 | College Savings Plans
About 15% of U.S. households use 529 College Savings Accounts (529) as college savings instruments. The suitability of a 529 account for this purpose depends on the owner’s situation. For most families who are reasonably confident that their a child will pursue...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Feb 7, 2026 | College Savings Plans
Section 529 of the IRS tax code establishes and defines Qualified Tuition Programs (QTPs) as tax-deductible education savings or prepaid tuition accounts. Hence the name 529 accounts. Most 529 plans are state-run, and each state has its own version of a 529 Education...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Aug 22, 2025 | College Savings Plans
Among educational savings plans, 529 accounts are the most widely used and popular option. There are about 17 million 529 accounts currently valued at over $525 billion. For years, 529 accounts have been considered to be educational savings plans intended for college...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Apr 27, 2025 | College Savings Plans
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 | Apr 26, 2025 | College Savings Plans
The Uniform Transfers To Minors Act (UTMA) and the Uniform Gifts to Minors Act (UGMA) are two laws that combine to produce the acronym “UTMA/UGMA”. They are useful tools for parents and others seeking to reduce taxes while accumulating assets for college. First came...
by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Apr 26, 2025 | College Savings Plans
In saving for a child’s education, parents want to know if they will have the funds necessary to pay the costs of college when the time comes. An dilemma they face is that, due to inflation, their objective is unknowable in advance. Tuition Inflation Many experts...
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