LAS VEGAS — College is a major expense for many families, but a payment strategy can provide significant tax savings, according to a college funding expert. "Distribution planning is not just for retirement," said certified financial planner Ross Riskin, chief learning officer for the Investments & Wealth Institute. Families also need a plan when tapping assets to pay for college, he said. Education funding can be complicated, especially when you're juggling eligibility for college tax credits, Riskin said at the American Institute of Certified Public Accountants' annual conference in Las Vegas on Monday. However, you can't "double dip" tax breaks by claiming one of these credits and withdrawing money from a 529 college savings plan for the same expense.

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Persons: Ross Riskin, Riskin Organizations: VEGAS —, Investments & Wealth Institute, Families, American Institute of Certified Public Accountants, Finance, Ivy League Locations: Las Vegas