Christian Parents and Schools Have 529 Reasons to Like New Tax Law
Trump made such a priority of parental choice in education during his campaign that, immediately after his election, people began working on school choice proposals in earnest. All the ideas people have had over the years—education savings accounts, Title 1 portability, tax credit scholarships—got new life. So did expanding the 529 savings accounts.
If I pay tuition at a Christian school, how can I take advantage of this?
Check with your state 529 plan or tax department to make sure the state follows the federal law to include K–12 tuition as a qualified expense. Most state legislatures meet in January, so we anticipate these decisions could be made in the first quarter of the year.
Set up a 529 plan. You can find out how by visiting the webpage for your state’s 529 plan. Often you can open an account through the site, though in some states you can use a broker or a bank. They are...