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Super Contributor
Posts: 2,234
Registered: ‎03-11-2010

YAY - 529 Plan Dropped - No Add'tl Taxes

Hooray!!!!

Honored Contributor
Posts: 11,126
Registered: ‎06-20-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

Good. It was an awful plan
Super Contributor
Posts: 2,234
Registered: ‎03-11-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

My husband started our taxes last night. Oh it is going to be a fun week. Usually he doesn't start until maybe April 5th.

With daughter having a co-op summer semester of earnings and high school school with a summer of earnings being an engineering intern at his Dad's (my husband) office . . . it will cause a little more grief as he comes in every so often and pronounces how much we owe the feds and the state and it changes many times before he's all done.

I was teasing him last night that I might have to FIRE him and go take a few new courses in tax law and start doing them instead!!

Honored Contributor
Posts: 11,126
Registered: ‎06-20-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

I don't even have all our financials yet.
Respected Contributor
Posts: 4,681
Registered: ‎03-09-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

what an idiotic suggestion that was. we should be encouraging MORE saving, for education, for retirement, not penalizing it. stupid.

Honored Contributor
Posts: 14,146
Registered: ‎03-09-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

On 1/27/2015 mstraditional said:

what an idiotic suggestion that was. we should be encouraging MORE saving, for education, for retirement, not penalizing it. stupid.

agree!

Super Contributor
Posts: 2,234
Registered: ‎03-11-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

On 1/27/2015 brii said: I don't even have all our financials yet.

Not sure IF we have all ours yet but he is starting the preliminary work.

We had one turn 21 a few weeks ago so we have to transfer a bunch of stuff officially into her name so that accounted for some of the ""envelopes of tax documents"" in our mail box this month.

Regular Contributor
Posts: 200
Registered: ‎05-17-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

Thank goodness. Why is responsible financial planning something to be taxed? When I look at what we make and how much is paid in taxes I want to scream!

Betty

Super Contributor
Posts: 2,234
Registered: ‎03-11-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

IF everybody had 529 . . . who would ""need"" free CC?

Or all those expensive student loans?

Responsible Parenting 101.

Or actually higher that Parenting 101 . . . more like 401.

Regular Contributor
Posts: 200
Registered: ‎05-17-2010

Re: YAY - 529 Plan Dropped - No Add'tl Taxes

How much more can be ""free""? I went to a CC first and worked to pay for it myself. Guess what? Everything turned out just fine.

Betty