Precise Accounting Services’ Post

✨✨A 529 plan is a tax-advantaged savings plan that parents and family members can use to save for a child’s education. Most importantly, contributions to the plan grow tax-deferred, and qualified distributions are tax-free when used for qualified education expenses. Do you know which expenses would be eligible for tax-free distributions?? 4️⃣ Computer & Software The IRS considers computers, computer software, and internet access as qualifying education expenses if they are used while enrolled at an eligible institution. However, software that is unrelated to your studies does not qualify. #529plan #collegesavings #taxdeferred #taxfreedistributions #tuitionandfees #roomandboard #booksandsupplies #computerandsoftware

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