I recommend that 529 account owners take care to withdraw 529 funds in the same calendar year as the payment of college expenses. Otherwise the taxpayer assumes the risk of IRS challenge by trying to tie this year's withdrawals to prior-year or future-year payments of qualifying expenses.
More Quotes from Joseph Hurley:
This is a remarkable development for families with children,Joseph Hurley
That has become a significant issue to worry about in many families, since that custodian account is owned by the child,
Joseph Hurley
They were really the model for the savings plans we see today.
Joseph Hurley
You don't have two 18-year-old kids go into a hotel and have a baby without medical training and say he's innocent. He did something wrong, but we're not sure what he did wrong.
Joseph Hurley
A prepaid tuition plan is attractive to a family that just wants to make sure they've paid for the future tuition at a public university and they don't want to worry about which direction the markets are going.
Joseph Hurley
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