Taxes
Coronavirus College Updates, Tax Strategies And More!
Our daily lives have changed so much since our last newsletter and we hope that you are healthy and safe. This trying time has created many concerns for families, especially for high school students and college students returning home. Please know we are staying on top of the latest news so we can best inform…
Are Scholarships Taxable? Rules To Know Now
First, congratulations on winning that scholarship! You’ve made a great stride in paying for college and reducing your student debt. Now that tax time is approaching, you might find yourself asking, “Are scholarships taxable?” This is an excellent question! Most scholarships and grants are considered “free money” and not taxable, but there are exceptions. To…
Will My Scholarships Be Taxable?
First, congratulations on winning that scholarship! This is a great question, especially now that it’s tax time. Scholarships are generally considered “free money” and not taxed. But…We’re talking about taxes, so there are exceptions. Let’s take a quick look at which situations are taxable and which are not. Non-Taxable Scholarships Scholarships, grants and fellowships are…
4 Tax-Saving Strategies for College Funding
It seems there are as many ways to save for college as there are colleges. It pays to do some research and understand ways you can not only save for your child’s education, but also save on your yearly tax bill. Depending on how much college costs, it’s possible to use tax strategies to save as much…
Where Should I be Saving for College?
Whether you have dreams of sending your newborn child to Harvard, UC Berkeley or San Diego State, you have a lot of savings ahead of you if you plan to foot part of the bill. You need to come up with a savings plan EARLY – and stick with it for many, many years. Various…
Tax Advantaged College Strategies
Often times, college planning entails helping a family increase their opportunity to qualify for financial aid. But what can be done for families who will likely NOT qualify for financial aid, given their income level and/or countable assets? Parents who are small business owners have additional college funding tools available to them that other families…