IncSmart Washington DC (Small Business and Startups) - An education IRA is a trust or custodial account created or organized in the United States only for the purpose of paying the qualified higher education expenses of the designated beneficiary of the account. When the account is established, the designated beneficiary must be a child under age 18. To be treated as an education IRA, the account must be designated as an education IRA when it is created.

These are expenses required for the enrollment or attendance of the designated beneficiary at an eligible educational institution. They include only the following items.

  1. Tuition and fees.
  2. The cost of books, supplies, and equipment.
  3. Amounts contributed to a qualified state tuition program.
  4. In some situations, the cost of room and board.
By Pat Turner

Starting a Business in Washington DC

For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form DC Corporations and DC Limited Liability Companies. When you call, email, instant message or live chat with our office, expect personal attention.  We are very excited about helping you form your new company.  Each state is so different when it comes to filing documents, you will know right away you are in the right place.

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Think Smart.  Think IncSmart.

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