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New Tax Deduction for New Jersey 529 Accounts

In this week's video, Tom discusses how saving for college in a New Jersey 529 account could provide a new tax deduction for folks. There are requirements that must be met by NJ taxpayers in order to qualify for this deduction. Tom also addresses a common worry we hear, "well what if my child doesn't go to college?", by explaining how 529 accounts are becoming more flexible. Tune in to hear if this is something you can take advantage of! 0:00 - NJ 529 Accounts 0:28 - New NJ "tax break" 0:57 - deduct up to $10,000 1:52 - 3 requirements 3:27 - 529s becoming more flexible #newjersey #taxes #college https://www.state.nj.us/treasury/taxa.... https://www.yahoo.com/now/law-allows-... https://mullooly.net/changes-are-comi... Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. Tom Mullooly is an investment industry veteran of over 30 years. Prior to launching the "Mullooly Asset Show," Tom (along with his sons) recorded close to 200 podcasts and nearly 200 videos, which can be found on the site http://www.mullooly.net. The "Mullooly Asset Show" is a new chapter in furthering the education of investors young and old. We answer questions and cover topics that YOU bring up. Our topics and questions range from those brought up by clients to those sent in by our viewers. Get in touch with us here: Office: 1971 State Route 34 Wall Township, New Jersey 07719 Website: http://www.mullooly.net Facebook: www.facebook.com/MulloolyAsset Twitter:   / mulloolyasset   LinkedIn:   / mullooly   Email: support@mullooly.net None of the content on our videos, podcasts, website or social media should ever be considered to be investment advice, financial planning advice or a recommendation to buy or sell investments. Nor should our content be considered research. Please our website for complete details. This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management. We rely on fundamental and technical analysis. Neither fundamental or technical analysis can predict the future, both methods have flaws. Past performance is no guarantee of future outcomes. Our Point & Figure charts are provided by our good friends at Dorsey Wright & Associates.