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The new Simplified FAFSA is here! Here’s a quick video with some tips that will help you get through it with a minimum of chaos and maximum of financial aid. 🔗
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Deciphering Aid Awards
Some colleges are really good at making a little look like a lot. Others are good at meeting students’ need. It’s up to you to figure out which bucket the schools that accepted your student fall into.
Reporting 1098-T and 1099-Q to the IRS
It’s last-minute-tax-questions week! Today’s question: Whose tax return does the 1099-Q go on? Answer: It depends.
Rhodes Scholars’ Alma Maters
With acceptance letters en route to students, it’s time for a refresher course on “Acceptance to an Elite School Does Not Guarantee Anything– Nor Does Non-Acceptance.” Here is a list of the schools that the 2014 Rhodes Scholars attended.
College Tax Credits and Divorce
Divorced parents are probably already well aware that the financial piece of planning for college is mystifying at best. If you’re a divorced parent, I hope this information helps you with your planning.
529 Plans and AMT
Many two-income Oregon families end up owing AMT due to our two-legged tax “stool.” That’s because, absent sales tax, we pay higher income and property taxes.
Obama’s Proposed Changes to 529 Plans
Part of President Obama’s proposal to “simplify the tax code” includes significant changes to the tax treatment of 529 plans and Coverdell ESA accounts: for new contributions (i.e, after enactment of this proposal, should that happen) distributions would no longer be tax-free, even if they are used for qualified education expenses.
FAFSA Treatment of Retirement Plan Contributions
Behold, FAFSA season is upon us! Well, not entirely– the FAFSA isn’t available until January 1. Nonetheless, confusion and questions about the FAFSA abound already.
We’re almost there: acceptance letters are arriving and the May 1 decision day is right around the corner. For most families, how much schools cost is part of the decision making process.