529 Plan Tuition Benefits
Under the new tax law, Virginia families are now able to use 529 Plans for private school tuition.
The Tax Cuts and Jobs Act of 2017 contains a provision that allows up to $10,000 per year, per child of qualifying 529 savings accounts to be used for private K-12 education. As a private K-12 institution, Fredericksburg Academy is eligible for this benefit. There are significant tax advantages to establishing and funding a 529 savings plan. Consult your financial advisor to discuss how this may fit into your individual plan.