How important are high gunnels for little kids in a boat?

[BassyiusMaximus]

Dodger on the bow for that shade, if you'd ever need it.

Here in New England, we are thankful for the days when we can fry like bacon because we are freezing like beef the other 6 months of the year.

[fishsmith]

Kind of off subject, .... but what happens to saved 529 money if the kid decides not to go to college or college doesn't happen?

[Jim in CT]

Originally Posted by fishsmith

Kind of off subject, .... but what happens to saved 529 money if the kid decides not to go to college or college doesn't happen?

Good question, and I know the answer. If you withdraw that money for any reason other than college expenses, you (1) have to pay income taxes on the earnings (for which you have not yet paid taxes), and (2) you pay an additional 10% penalty to the feds...

The big advantage of 529 plans is that if you DO use it for college, you never have to pay any taxes on your earnings. You already paid taxes on your contrubutions, but your gains are tax-free if used for college.

[fishsmith]

Originally Posted by Jim in CT

Good question, and I know the answer. If you withdraw that money for any reason other than college expenses, you (1) have to pay income taxes on the earnings (for which you have not yet paid taxes), and (2) you pay an additional 10% penalty to the feds...

The big advantage of 529 plans is that if you DO use it for college, you never have to pay any taxes on your earnings. You already paid taxes on your contrubutions, but your gains are tax-free if used for college.

Gracias.

the Duct tape sales is funny ...

So .... you get the boat yet????