Localfund.com - All about Fund and Investment
*Home>>>Income Fund

Can I claim pmts made into a prepaid college fund, on my taxes?


I pay $1050 each year on the Fla. Prepaid College Plan for my son's future tuition. Can I claim this as tuition and not pay taxes on this amount of income? How does this work?

No. Payments to the Florida Prepaid College Plan are not tax deductible.

Here's the website for the Florida plan
http://www.florida529plans.com/

Tags
  Investment Account   Invest Money   Invest in Gold   Invest Fund   Income Fund   HYIP   High Yield   Hedge Fund
Related information
  • How much money is required to buy a retirement fund.?

    i agree with poster number two -- l think as rule of thumb - in my case my lie style has not changed and it costs me about 75% now compare to when i was working.. so if you for get raises to ss and...

  • If i could save 10% of my income what would you suggest i do exmaple 50% for retirement and?

    If you're still 20 or younger, and you save 10% a week and invest it in stocks or mutual funds, you could conceivably become a millionaire by the time you're 50 or maybe sooner. I didn...

  • Tax question about closing a non retirement Mutual Fund account.?

    Yes. You are allowed to take up to $3000 capital loss deduction, so your $600 will be deductible. Scedule D is for capital gains and losses. You didn't need to report gains and losses i...

  • Can I get a federal grant to fund a 4-H project for 4-H kids?

    I am not sure about a federal loan. 4-H is a big deal for the kids where I live. The kids are able to get a loan from the local bank for their 4-H project to get an animal. They show the animal ...

  • I have a rolled over 401K fund managed by a brokerage firm. Why do they need to know what my tax bracket is?

    Most likely to try and advise you as to proper investments, but also possibly to try to sell you services. Ask them, if they will not tell you, then roll it over to someone who will tell you.

    ...
  • Which is the best mutual fund in MIP?

    Please check HDFC Monthly Income Plan - Long Term Plan (G) Fund. One year return is 21.0%. age of fund - 28 months. Inception Date - December 26, 2003. Present Fund asset size - 823.21 crore. Key...

  • What is best asset allocation for $300K to be used to supplement future income of 53 y/o low income woman?

    I would suggest looking at companies that pay dividends, particularly those that pay higher than the stock market's average. Dividend paying stocks provide a form of current income and usuall...

  • What percent of income should i save?

    You Should be maxing out your 401k and IRA contributions then make sure you are debt free except for your mortgage before you consider any other types of investments. The 401k an IRA, will allow ab...

  •  

    Categories--Copyright/IP Policy--Contact Webmaster