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Topics include LGIPs, arbitrage bonds, qualified tuition plans and the regulation of political contributions.
As a wholly owned subsidiary of NorthStar, CLS will assist other NorthStar affiliates in administration and asset management for the qualified tuition plans.
The IRS has provided no guidance on whether distributions from section 529 qualified tuition plans (QTPs) and Coverdell accounts (CAs) are treated as provided by the student or by the account owner.
The introduction of qualified tuition plans (QTP) under Sec.
The bill also updates limitations on exempt property by: increasing the dollar limitation on household goods from $10,000 to $20,000; changing the personal automobile exemption to a personal motor vehicle exemption based on gross weight and limiting the exemption to two motor vehicles; and including all qualified tuition plans authorized by Internal Revenue Code [section]529.
The treatment of both qualified tuition plans and college savings accounts in the federal financial aid formula may significantly decrease the eligibility for financial aid.
Two relatively new government tax incentives are very good savings vehicles--the Coverdell Education Savings Accounts (ESAs) and the 529 State-Sponsored Qualified Tuition Plans (QTPs).
You should be aware that other states may sponsor their own qualified tuition plans and may offer a state tax deduction or other benefits that are limited to residents who invest in that plan.
Firm Serves as Committed Partner to Qualified Tuition Plans, Positioning Them for Long-Term Growth and Operational Efficiencies
An array of tax benefits are available to taxpayers, including income exclusions for educational assistance, scholarships, and distributions from qualified tuition plans and educational IRAs, as well as credits for tuition and certain education-related expenses and a deduction for tuition payments.
While taxpayers have focused lately on the benefits of IRC section 529 qualified tuition plans (QTPs), Coverdell Education Savings Accounts (ESAs) offer an attractive alternative.
Also known as qualified tuition plans, the rules vary by state, but some allow you to contribute more than $10,000 per year per student or up to $50,000 maximum every five years, whichever comes first.

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