Tax Compliance

Education Funding Compliance

We can ensure you receive credits and deductions you’re entitled to from your education funding plans, such as the following:

  • 529 Plans
    Your contributions are tax-deductible, and you’ll be able to skip taxes on earnings if you spend them on qualified education expenses. There are no income or contribution restrictions.
  • Coverdell Education Savings Account (ESA)
    Similar to a 529 Plan. Also allows you to skip and deduct taxes as long as funds are used for qualified costs. But Coverdells are reserved for families earning less than $220,000 and you can only contribute $2,000 per student a year until they reach 18.
  • Roth IRAs
    Contributions to a Roth IRA can be withdrawn tax- and penalty-free. Earnings can also be withdrawn before 59 and a half if used for educational expenses for a child or grandchild.

Contact Morris and Associates today for a FREE consultation today to receive what you’re entitled to.