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College Planning Services

Newport Beach college planning services

Saving for your child's education takes careful planning and dedication. The financial advisors at Balboa Tax & Accounting Services will help you create a college fund and keep it on track as the years go by and circumstances change. We'll work with you to figure out how much you need to save, how to leverage tax breaks to help reach your target, and how to set up the kind of savings plan that will coordinate with your overall financial goals.

Together, we'll analyze your financial situation to identify which savings plan is best for you and your family. One option is a 529 college savings plan that offers tax and financial aid benefits. The earnings are tax-deferred and distributions are not subject to federal tax when used for higher education expenses. Before buying a 529 plan, you should inquire about the particular plan and its fees and expenses. You should also consider that certain states offer tax benefits and fee savings to in-state residents. Whether a state tax deduction and/or application fee savings are available depends on your state of residence. Non-qualifying distribution earnings are taxable and subject to a 10% tax penalty. Another option is a Coverdell Education Savings Account (ESA). This type of tax-deferred trust account also allows you to withdraw money tax-free for educational expenses at a qualified institution.

Get your financial advice from financial advisors that will guide you through the process of financing for your child's college education. Request a free consultation online to get started or call 949-752-1120 now.

Investment Advisory Services offered through Lion Street Advisors, LLC. (LSA), an investment adviser registered with the SEC. Balboa FL, Inc. and LSA are not affiliated. LSA does not provide tax or legal advice.


College Savings Plan Services

  • 529 plan selection
  • Cost and savings assessments and prediction services
  • Tax-sensitive investment counseling
  • Coverdell Education Savings Account (ESA)
  • College savings trusts
  • Portfolio management