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Morningside Accepts Funds from 529 Accounts for Kindergarten Tuition

Did you know you can contribute to the Utah Savings Educational 529 Account and use that money to pay tuition for children in Kindergarten-12? The money withdrawn from this account will not be subjected to income tax on its earnings. And, Utah taxpayers’ contributions to the 529 account yearly receive a 5 percent tax credit against income tax up to $1,960 ($3,920 for husband and wife)!

Possibly the coolest thing about this account is that it has no relationship limit! So whether you’re the student’s parent, grandparent, aunt, uncle, or family friend you can use 529 funds to pay K-12 tuition. The 529 is huge because public schools offer only half-day kindergarten so you could pay for a Kindergartner to attend a private school the other half of the day and further their early education using tax savings! The state-sponsored program in Utah is my529.org.

 

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