Taxes in 2002: Investing for Education

This is the first article in a series about how the new federal tax law can save you money. The series begins today with a look at investing for education. On Tuesday, we will address how changes in the law affect saving for retirement and, on Wednesday, estate planning.

Taxes in 2002: Retirement Plans

Taxes in 2002: Estate Planning

Patriotism is all well and good, but let's not kid ourselves: At tax time, most people want to write as stingy a check to Uncle Sam as the letter of the law allows.

With that in mind, we've surveyed a handful of financial planners to find out what they think are the most significant changes for investors in 2002, as the new federal tax law that passed last year takes effect. By giving some thought to your situation now, you should be able to whittle down your tax bill next spring.

But since the law includes so many changes, today we're focusing on just one: investing to pay for education. ...