“Minnesota doesn’t recognize K-12 expenses as a qualified expense.”
MINNEAPOLIS (PRWEB) July 29, 2019
MNCPA Perspectives recently published a piece featuring the knowledge of Laura Bereiter of White Oaks Wealth Advisors on the subject of 529 plan use for funding a k-12 education in the state of MN. Laura points out that, “Minnesota doesn’t recognize K-12 expenses as a qualified expense.”
She further goes on to explain how Minnesota does not fully conform to federal tax law post-Tax Cuts and Jobs Act. Bereiter encourages, "It’s important to consult a tax professional, such as a certified public accountant, to determine what new tax changes were passed in Minnesota and how it’ll affect your family.”
Bereiter is the Director of Tax and Financial Planning at White Oaks Wealth Advisors. White Oaks Wealth Advisors, Inc. is a private, fee-only Wealth Management and Family Office firm with offices in Minneapolis, MN and the Sarasota, FL area that specialize in simplifying the complexities of wealth for upper net worth individuals. The firm offers an advisory team with experience in areas such as retirement planning, investment advice and management, family office services, estate planning, tax planning, stock option exercise, charitable gift planning, qualified plan distribution planning, and many other issues that individuals face in meeting and achieving their financial security goals. White Oaks Wealth Advisors, Inc. has been honored by having team members listed on the "Gulf Coast 500" by Business Observer, "Top 250 Financial Advisors" by Worth Magazine, "Top Dog's" by Bloomberg Wealth Manager, "5 Star Advisor" by Paladin Registry, "WiserAdvisor.com," "Best 150 Advisors for Doctors" by Medical Economics, "100 Top Advisors" by Mutual Funds Magazine and CNBC's Top Fee Only Wealth Management List.