Tax law extends 529 plans to certain pre-college educational costs for many families. Some have been able to use tax-advantaged 529 plans to save for future college costs. The tax law passed in 2018 broadens the use of these plans to include certain costs associated with elementary, middle, and high school education. Please check with a tax adviser or 529 plan operator to see if you might be eligible to take advantage of this law.
Some families with dependents who attend specialized schools for medical reasons may be able, with a doctor’s recommendation, to deduct tuition as a medical expense on their income taxes. This can be a significant deduction for families with already high out-of-pocket medical expenses. Please consult your tax advisor as only you and your tax adviser can decide whether this applies to you.
Another option for affording Hill School is to finance tuition through Your Tuition Solution.