Coverdell Education Savings AccountsThese accounts can be set up for kids under 18 years of age and the annual contribution limit is $2,000 per child.
Year End Tax Planning: What’s On Your Tax Return?The standard deduction for couples filing jointly is $11,600 and for singles it is one half that at $5,800 for this year.
Money Matters - Saving For College: Coverdell Education Savings AccountsCoverdell Education Savings Accounts were the Educational IRAs that had a name that made no sense.