529 Education Savings Plan- Extended

With rising tuition costs, 529 plans has been growing in popularity since it is an attractive way to save for college. 529 plans allow the taxpayer to contribute money in the plan and withdraw the money tax-free so long as it is used for qualified education-related expenses for a designated beneficiary. Qualified expenses include tuition, required fees, books, supplies, equipment and special needs services. In addition, it can be used to buy computer equipment and services for an eligible student. For 2009 and 2010, 529 plan benefits have been extended to expenses for computer equipment and technology or internet access and related services to be used by a qualified student while enrolled at qualified educational institution.