--- title: Not Your Father's Accountant Blog | College Fund description: College Fund | Business Insights For The Modern Business Owner from the good folks at Milam, Knecht & Warner. --- ### [![not your fathers accountant blog](https://www.weaddvalue.com/hs-fs/images/not-your-fathers-accountant-blog.jpg)](https://www.weaddvalue.com/blog/) # [Consider Using Advance CTC Payments to Start a College Fund](https://www.weaddvalue.com/blog/ctc-section529/08.16.21) Posted by [Collene Torres](https://www.weaddvalue.com/blog/author/collene-torres) on August 16, 2021 - [Tweet](https://twitter.com/share) [![](https://www.weaddvalue.com/hubfs/Consider%20Using%20Advance%20CTC%20Payments%20to%20Start%20a%20College%20Fund-jpg-1.jpeg) ](https://www.weaddvalue.com/blog/ctc-section529/08.16.21) **I****f you're eligible for advance child tax credit (CTC) payments** provided by the American Rescue Plan Act, you might wonder if you should spend the extra cash. Some families are incurring extra child-care costs so the parents can return to work. But others don't have any imminent child-care-related expenditures to cover. Rather than spend the money on a trip to Disneyland or new smartphones, you might want to invest in your child's future by starting or contributing to a tax-favored Section 529 college savings plan. Here's what you should know: [Read More](https://www.weaddvalue.com/blog/ctc-section529/08.16.21) 0 Comments [Click here to read/write comments](https://www.weaddvalue.com/blog/ctc-section529/08.16.21#comments-listing) Tags: [Accounting](https://www.weaddvalue.com/blog/topic/accounting), [COVID](https://www.weaddvalue.com/blog/topic/covid), [CTC](https://www.weaddvalue.com/blog/topic/ctc), [Section 529](https://www.weaddvalue.com/blog/topic/section-529), [College Fund](https://www.weaddvalue.com/blog/topic/college-fund), [American Rescue Plan Act](https://www.weaddvalue.com/blog/topic/american-rescue-plan-act) [All posts](https://www.weaddvalue.com/blog/all) ## Get The Latest! Sign up for our monthly newsletter for business owners. ## Lower Your Business Taxes Register today for a *Free* **Business Tax Diagnostic **from MKW. Minimize your taxes & free up cash to reinvest in your business.    [![Register Today](https://no-cache.hubspot.com/cta/default/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d.png)](http://cta-redirect.hubspot.com/cta/redirect/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d)