Bob with Nicholas Nicolas Douglas Crawford
An investment in knowledge pays the best interest.
December 2017 was an amazing month!
My wife Renee and I were blessed with a beautiful Christmas gift, our first grandchild, handsome baby Nicholas.
Of course we wanted to begin contributing to his college education via a 529 college saving plan as soon as possible. We know that since 2001, the 529 contributions can be deposited into plan account and that the accumulation of assets would have the possibility to grow income tax free, as long the account funds are used for the benefit of Nicholas’s college expenses.
However, with the enactment of the new tax legislation, the Tax Cuts and Jobs Act of 2017, some significant 529 plan account expansion items were enacted.
These new changes allow for several compelling improvements that may benefit baby Nicholas’s future educational opportunities.