A 2012 Holiday Gift for You

Happy December!  With the days counting down to Christmas, year-end and the impending buzz on the Fiscal Cliff, I just wanted to send you a brief message and direct you to a few of our posts that have received considerable attention, most likely because they relate to issues most near and dear to our own personal lives…college costs. Three of which come to mind are Do the Math-Big Ten Schools  and Back to School  and You are not Alone -Who can Afford College Today   As I reflect on 2012 coming to a close, it’s almost unfathomable to believe that my daughter Haley is half way through her Junior year at University of Wisconsin (lets hope for a Badger win at the Rose Bowl!!!) and my son Jack is on the back-end of his Sophomore year at Indiana University (how about Hoosier Basketball???). There are numerous way to manage college costs, many of which are fairly straight forward.  There is one simple tax savings strategy that you can implement before year-end that will enable you to save up to $1,000 in Illinois state taxes this year!
You can achieve this savings by contributing to a 529 Bright Directions College Savings Plan.  Even in the event that you will need these funds next year you are able to keep the contributions liquid and disburse when needed with potentially an extra $1,000 in your pocket…a great Christmas present for you!!!