They are easy to buy and can be registered in the parents' names or the child's name. Interest can be fully excluded if the taxpayer meets certain income guidelines. Many children receive bonds as gifts from relatives, and parents usually ignore the bonds until they mature, then pay tax on the interest income. Instead, parents should report interest on the bonds each year. By following this strategy rather than waiting to pay taxes when you cash in the bond, you could save 30 to 35 percent in taxes.
Community colleges are the basement bargains of higher education.
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