I am wondering if I can use tax free money to pay for tuition, books, and the biggie…living expenses. Since I have a family and mortgage etc. the living expenses will obviously be large. The buyout is equal to two years pay and I would like to take advantage of tax breaks with the lump sum payment. Thank you.
I am taking a buyout at work. Can I put a portion of the $ into a 529 plan tax free?