When you’re married, choosing the right married filing status is one of the most important tax decisions you’ll make. The two main options—married filing jointly and separately—can lead to very different results on your return.
When it comes to saving for a child’s or grandchild’s education, few tools are as tax-advantaged and flexible as 529 plans. Whether you’re a parent planning for your child’s college tuition or a grandparent wanting to leave a legacy of learning, 529 plans offer an excellent way to invest in their future—while potentially saving on taxes. Here’s what you need to know about 529 plans.