Must-Know 2024 Back to School Tax Strategies

As the back-to-school season kicks off, join Jeff Trapp on The Jeff Trapp Podcast to uncover the latest education tax strategies that can save you money. In this episode, Jeff dives into newly updated FAFSA rules, which introduce the "grandparent loophole," allowing grandparents to fund 529 plans without affecting financial aid. He also explores how leftover 529 funds can now be rolled into Roth IRAs tax-free, maximizing your savings. Learn about key tax credits, such as the American Opportunity Tax Credit and Lifetime Learning Credit, and discover how these can significantly reduce your education expenses. Jeff also highlights the benefits of accelerated gifting and investing strategies within 529 plans, helping you stay ahead of rising college costs. Tune in now for practical advice that could save your family thousands this school year. If you find this episode helpful, please like, share, and subscribe, and reach out to our tax team for personalized assistance at https://www.thetaxplanningpros.com/contact-us#BookAConsultation.