Course Description

With the rising cost of college, education planning has become an increasingly greater need for clients. 529 plans continue to be a valuable way to save for college in a tax-efficient way. However, are there any costs that 529 plans cannot be used to cover? What about using 529 plans to cover student loan payments? Is that possible? Finally, with SECURE 2.0, are there now more tax-efficient ways to get money out of a 529 plan? In this course, we will go beyond the nuts and bolts of 529 plans and explore these details and many more, so that you can be ready to field client questions. If you are looking for a course that goes more in-depth on 529 plans, this is the one for you!

Learning Objectives

  • State what expenses 529 plan distributions may be used for.

  • Recognize ways that remaining funds may be removed from a 529 plan tax-free.

  • Identify when a Coverdell ESA might be used instead of a 529 plan.

Additional Required Materials

  • Level: Intermediate

  • Field of Study: Taxes (NASBA); General Principles of Financial Planning (CFP); Federal Taxation (IRS)

  • Who Should Attend: Tax practitioners and financial advisors with clients who are saving for or entering into college.

  • Required Knowledge: None

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.