Pay attention to timing. There is no IRS ruling yet whether withdrawing money from a 529 account in one year and using it the next is allowed or not.

Make sure the expenses qualify.  Double-check that you allowed to withdraw 529 savings to pay for college bill.

Take any scholarships or tax credits into account. The federal govt offers a number of tax credits worth up to $2500 per student.

Act fast on fixes. You are allowed only one rollover for each 529 account you own within any 12-month period.

Check before you make a big gift.  Assets you contribute to a 529 account no longer count as part of your estate even if you the account owner. Each grandparent can contribute up to $14,000 a year in 529 account for each child without incurring gift taxes or $70,000 in one fell swoop, using up to five years of gifts at once.  Still, people who make five-year gifts have to file a federal gift-tax form to make sure they get the full exemptions.


Here is the easy way of saving for college tax free , in an index universal life policy.  Call Connie for no elaborate taxes college plan 408-854-1883 CA Life Lic 0G60621.

1yr old pension +saving plan up to $3.6M at age 65 with health benefit

1yr old pension +college plan have $61k cash at age 16

1yr old pension +college plan with access to $1.5M when health threats occur


Connie Dello Buono 


Money coach and wealth strategist for tax-free retirement




1708 Hallmark Lane San Jose CA 95124
PS. Ask me for 6% index annuities and 13- 17% index universal life policies