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Introduction

Tax Savings Opportunities

The tax law provides individuals with a number of ways to save for a child's college education, such as the Coverdell Education Savings Account (formerly known as the Education IRA), the Education Savings Bond Program and Qualified Tuition Programs (also called 529 plans). The law also provides some individuals with tax breaks while the child is in school, such as the American Opportunity Tax Credit, the Lifetime Learning Credit, and a federal income tax deduction for higher education expenses. It is important that you become familiar with these and other provisions of the law in order to optimize the tax-saving strategies that fit your situation.

*Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. BancorpSouth Wealth Management is a trade name of BancorpSouth Bank, a division of Cadence Bank. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.

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