• College,  Savings,  Taxes

    Using Your VA529 Plan to Pay for Private K-12 Education

    Are you paying for private school for a kid in grades K-12? It's a little painful, isn't it? Well, now there's a way to reduce the sting (a little bit). With the passage of the Tax Cuts and Jobs Act of 2017 parents can use their VA 529 plan to pay for K-12 private school tuition. Each state is different but the Virginia 529 College Savings Plan has adopted their policies to allow Virginia residents to take advantage of this new strategy. Virginia residents can use the VA 529 plan to get a little extra tax deduction on your VA state income taxes (plus some tax-free growth for the super…