Big News

Look at new tax plan options for families of parochial/private schools.  The same 529 plan that in the past was used only for college tuition can now in Missouri be used in schools up to 12th grade.

  • Starting in 2018, you can use up to $10,000 in 529 plan proceeds for elementary and high school costs.
  • 529 plan contributions qualify for the $15,000 annual gift tax exclusion.
  • More than 30 states allow income tax deductions for 529 plan contributions.

https://www.cnbc.com/2017/12/29/tax-bill-529-plan-provision-helps-families-save-on-school-costs-taxes.html