529 College Savings Plan may be the perfect option to fund your child’s future educational expenses. 529 plans allow funds to be grown and withdrawn tax-free, only if used for qualifying educational expenses.
457b is a tax-deferred retirement plan. This plan allows individuals to save funds for retirement while also placing funds aside to supplement funds from their pension.
Teachers tend to buy some of their supplies with money out of pocket. Luckily, there is a specific tax break that allows them to deduct a portion of their expenses.