In this episode, I’ll share a strategy to reduce your taxable income so that you can lower the estimated family contribution (EFC) on your FAFSA when filing for school year 2018.
Disclaimer: This post provides a guide or a place to begin. It is an education tool that presents general information. It is not intended to offer specific tax advice. You should consult with an accountant for your specific situation.
Correction: Around 4:55, I said, “By Ken and Barbie making a $100,000 combined IRA contribution….” and should have said $10,000 combined IRA contribution.
Links mentioned:
FAFSA4Caster — to estimate student aid
IRS website — IRA information
Family size definition on FAFSA website
Follow:
/ScholarshipShark
@BiteCollegeDebt
Subscribe:
thescholarshipshark.com/feed
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In this episode, I’ll share a strategy to reduce your taxable income so that you can lower the estimated family contribution (EFC) on your FAFSA when filing for school year 2018.
Disclaimer: This post provides a guide or a place to begin. It is an education tool that presents general information. It is not intended to offer specific tax advice. You should consult with an accountant for your specific situation.
Correction: Around 4:55, I said, “By Ken and Barbie making a $100,000 combined IRA contribution….” and should have said $10,000 combined IRA contribution.
Links mentioned:
FAFSA4Caster — to estimate student aid
IRS website — IRA information
Family size definition on FAFSA website
Follow:
/ScholarshipShark
@BiteCollegeDebt
Subscribe:
thescholarshipshark.com/feed
Save
Save
Save
Save