Qualified tuition plans, more commonly known as 529 plans, offer parents and other relatives a tax-advantage way to save money for college. Taxpayers can fund a 529 plan only with after tax dollars, but the money in the plan grows tax-free, and can be withdrawn tax-free if used for qualifying educational expenses.
Albert E. Bergen, CPA is a certified public accountant and income tax professional in Auburn, Maine. Albert has been preparing income tax returns for individuals, S-corporations, C-corporations, LLC’s, partnerships, non-profits, and trusts, as well as preparing compiled and reviewed financial statements for businesses and non-profit organizations since 2005. He holds a Bachelor’s of Science in Computer Engineering from the University of Maine and is working on a Master’s of Business Administration from the University of Southern Maine.