Backpack 529 Blog

Read the latest from the team at Backpack

Category

529 Plans and Taxes: What you need to know before you withdraw

Explore the crucial tax considerations for 529 plans, gain insights on maximizing benefits and avoiding penalties through understanding qualified withdrawals, tax credits coordination, state tax nuances, and the importance of record-keeping, alongside introducing Backpack's 529 Purchase Protection service.
Callum Bedos
February 9, 2024
4 min read
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Don’t make these 3 mistakes when using your 529 to avoid IRS penalties

Learn to navigate the 529 plan effectively and avoid IRS penalties by steering clear of common mistakes related to qualified expenses, timing of withdrawals, and coordinating with other educational benefits, with the added security of Backpack’s 529 Purchase Protection.
Callum Bedos
February 2, 2024
3 min read
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Dealing with an IRS Audit: How Purchase Protection can help

Navigate IRS audits confidently with our essential guide for 529 plan holders, detailing how to prepare and what to expect, including tips on understanding qualified expenses, keeping meticulous records, and having relevant enrollment documents at hand, all made easier with Backpack's 529 Purchase Protection service.
Callum Bedos
January 26, 2024
4 min read