Category: Education Savings Plans

A Coverdell Education Savings Account (ESA), formerly known as an Education IRA, is a vehicle that assists with saving for education expenses. This article describes the provisions of the US tax code for educational IRAs as of mid 2001, including the changes made by the Economic Recovery and Tax Relief Reconciliation Act of 2001. Funds

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Tax law changes made in 2001 introduced a college savings plan commonly called a “529 plan” (named after their section in the Internal Revenue Code). These plans allow people to save for college expenses. There are actually two types of 529 plans being offered by different states. One kind is a pre-paid tuition plan; the

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