New Tax Deduction for New Jersey 529 Accounts

In this week's video, Tom discusses how saving for college in a New Jersey 529 account could provide a new tax deduction for folks. There are requirements that must be met by NJ taxpayers in order to qualify for this deduction.

Tom also addresses a common worry we hear, "well what if my child doesn't go to college?", by explaining how 529 accounts are becoming more flexible.

Tune in to hear if this is something you can take advantage of!

0:00 - NJ 529 Accounts
0:28 - New NJ "tax break"
0:57 - deduct up to $10,000
1:52 - 3 requirements
3:27 - 529s becoming more flexible

#newjersey #taxes #college

https://www.state.nj.us/treasury/taxa....

https://www.yahoo.com/now/law-allows-...

https://mullooly.net/changes-are-comi...

Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments.

Tom Mullooly is an investment industry veteran of over 30 years. Prior to launching the "Mullooly Asset Show," Tom (along with his sons) recorded close to 200 podcasts and nearly 200 videos, which can be found on the site http://www.mullooly.net.

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