529s help with K-12 tuition, too.
The MOST 529 Plan can be used on both current and future education expenses. The plan is designed to be flexible, cost-efficient, and beneficial for Missourians. State tax benefits combined with broadening eligible expenses mean Missourians can take advantage of tax benefits now, while continuing to save for the future.
In 2018, tuition for private, public, and religious elementary and secondary schools was added to the list of qualified MOST 529 expenses allowing participants to withdraw up to $10,000 per year from your MOST 529 account tax-free to pay for K-12 tuition.
For Missouri parents paying K-12 tuition, using a MOST 529 Plan allows a state income tax deduction for money contributed to the account. You can save money on your taxes now—while paying for your child’s current education expenses.
It’s a win-win.
Have questions? Schedule time to meet with our education specialist, Angela Williams.