Saving for Private School Tuition: Coverdell ESA’s made permanent

| 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