Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Private & Independent Schools
Reply to "529"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]I’m not following what the tax break is here…I think for DC residents, the max 529 tax deduction for a couple is $8k. So I’m not quite following how this would help your taxes? Unless you already have college saved for, and you’re saying you’d contribute solely to pull the money out for private school?[/quote] +1, I have never thought it was worth it. In Virginia you can deduct $4k per account holder per student which in our household amounts to $8k. We actually don't contribute that much annually to the college fund, so washing private K-8 tuition through the 529 would increase our state deduction a bit ... but jeez, it's a lot of extra transactions and paperwork, for not a lot of benefit. We already get a refund on state taxes without doing this. Maybe it makes sense if you have several kids in private school and also aren't funding their 529s very much?[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
