Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How 529 Plans Handle Non-Qualified Withdrawals
We drill into the tax consequences of pulling money out of a 529 plan for things that aren't tuition, books, or room and board. Lucas and Luna break down the 10 percent penalty, the income tax hit on earnings, and the specific exceptions that save you from them. We look at what happens when your child decides to go to trade school, take a gap year, or just buy a car instead of paying for college. If you have a 529 plan, this episode tells you exactly how to avoid the IRS audit trap.
#Finance #Business #FexingoBusiness #BusinessPodcast #529Plans #CollegeSavings #TaxStrategy #StudentLoans…
The skinny
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