• 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 now have another option to help pay for private school tuition in a tax-savvy manner. Now you 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 organized among you) on your private K-12 tuition bill. You can now take up to $10,000/ year from a 529 college savings account to…