Brian Fisher | March 07, 2013
[caption id="attachment_8032" align="aligncenter" width="550"] Coverdell Education Savings Accounts: Saving for Private School Tuition[/caption]
A quick note this morning on the status of Coverdell Education Savings Accounts:
Coverdell ESA’s were made permanent in the recent fiscal cliff legislation. With tax time upon us, a Coverdell ESA might be a good fit for private school savings plan.
Coverdell ESA’s have a maximum contribution limit of $2000 annually so families won’t be able use a Coverdell ESA for the bulk of their tuition savings. But, every little bit helps.
A few- but not all- Coverdell ESA Basics:
Remember to check with your accountant/tax advisor as you consider your education savings choices.
Photo credit: 401(K) 2013 via Creative Commons