I didn’t hear about these until recently but look into creating an ABLE Account if you have a child with a disability; it seems like it could be significant tax advantage wise. ABLE stands for Achieving a Better Life Experience and this Act was created in 2014.
Some links from reputable sources are:
- IRS – ABLE Accounts – Tax Benefit for People with Disabilities
- Intuit Turbotax – What are ABLE Accounts? Tax Benefits Explained
Check with a tax advisor or financial planner for more info!