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2-Minute Tax Tip: What's an Educational IRA? Mark J. Kohler breaks down five benefits of the flexible Educational IRA.

By Mark J. Kohler

Opinions expressed by Entrepreneur contributors are their own.

Paying for your children's education is more expensive than ever, so it's important to start planning well ahead of time -- and to plan creatively. Many people have seen advertisements for a 529 plan (a state- or educational institution-operated savings plan that helps families save for future college costs), but the Educational IRA is a great tool that allows you to save up to $2,000 per year, per child . . . and it's something that you definitely shouldn't overlook when it comes to college planning.

Watch more videos from Mark J. Kohler on his YouTube channel.

Related: How to Buy Your First Rental Property in an IRA

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Mark J. Kohler

Entrepreneur Leadership Network® VIP

Author, Attorney and CPA

Mark Kohler, M.PR.A., C.P.A., J.D., is a highly respected Founding and Senior Partner at KKOS Lawyers, specializing in tax, legal, wealth, estate, and asset protection planning. With a reputation as a YouTube personality, best-selling author, and national speaker, Kohler is dedicated to guiding clients through complex legal and financial landscapes to achieve their American Dream. He also serves as the co-founder and Board Member of the Directed IRA Trust Company and has launched the Main Street Certified Tax Advisor Program to train CPAs and Enrolled Agents nationwide. As the co-host of The Main Street Business Podcast and The Directed IRA Podcast, he simplifies intricate topics like legal and tax strategy, asset protection, retirement, investing, and wealth growth. Mark Kohler's commitment to helping entrepreneurs and small business owners attain success and financial security has made him a trusted expert in the field, benefiting countless individuals and businesses in navigating the financial and business world with confidence.

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