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Financial Planning / Tax Strategies


Subject:  Re: Uncharted waters Date:  10/9/2012  2:18 PM
Author:  irasmilo Number:  116769 of 123001

So, DD has had some work!

Not a windfall, by any stretch, but earnings have exceeded costs with a little left over for contributions to either IRA or 529 (leaning back towards 529 after discussion with my accountant... Asked him to confirm that she can contribute to her own plan first *grin*)

Previous posts in this thread have all favored contributing to a Roth IRA over funding a 529 with her money. I can't think of any reason your accountant would suggest otherwise. NY offers a state income tax benefit for contributions to the NY529 plan, but that benefit would be worth far more to y