@originaldohnthornton: Most families pay for college with after-tax money… write massive checks… and get crushed financially trying to help their kids succeed.
I took a different route. My daughter was a beneficiary of my contract law spendthrift trust… so over $155,000 of tuition expenses were paid through the trust. That means the expenses were tax-deductible to the trust.
Same tuition. Same education.
Completely different financial outcome. Meanwhile, most people are paying tuition personally… creating taxable events… and losing huge amounts of money to Uncle Sam in the process. The wealthy think differently about how money flows (info purposes only; not a licensed tax, legal, or accounting professional) #taxsavings #taxreduction #taxdeductions #tuition #education