A college plan has to work for your student and for the people paying the bills.
Offered by James Maguire, tax preparer, Maguire Taxes. Master of Science in Taxation, Northeastern University.
Start with what your family can realistically afford
We look at school choices, estimated costs, savings, borrowing, and the tax years behind financial-aid applications. Parents may be focused on retirement and monthly payments while their student is focused on one particular campus. Both perspectives belong in the conversation.
The goal is a shared understanding of the numbers and the choices ahead. We can help organize the tax questions and cost comparisons. Schools determine admission and financial-aid awards; a tax strategy cannot promise either outcome.
Why the timing matters
Families often start with tuition prices, but the FAFSA may use a return you have already filed. The 2027–28 FAFSA uses 2025 tax information (the federal “prior-prior year” rule). Starting several years before enrollment gives you more time to understand that timing and compare options. If your student is already in college, there are still later aid years and school review procedures to consider.
We review the required income year, your household’s tax situation, and each school’s requirements. A lower tax bill does not necessarily mean a better aid result. Retirement and business decisions should also make sense for the rest of your life.
Questions worth working through together
- Which tax return will the application use, and what has changed since then?
- What is each school’s estimated net price after grants and scholarships?
- Which costs would be paid from current income, savings, or borrowing?
- How would the plan affect retirement savings and other family needs?
- Does a school require the CSS Profile or additional information?
- Would a different school or transfer pathway meet the student’s goals at a workable cost?
Bring the facts, and the questions
Useful starting points include the relevant tax returns, school net-price estimates, aid offers, and a realistic sense of what the family can contribute. We use the secure document portal when records are needed. Keep Social Security numbers and tax documents out of introductory emails.
The work depends on your family’s situation. We can compare estimated costs, explain tax consequences, and identify questions for the school’s aid office. We do not provide a standard packet promising admission, particular aid amounts, stronger test scores, or a specific family outcome.
A separate resource
You can also visit My Choice Therapy for information about its separate services.
Start with a conversation
Call (781) 471-4310 or send a short note about where your student is in the process and what feels unclear. We will work out the next step together.
Sources: Federal Student Aid, FAFSA information; IRS Form 1040 instructions.
Related reading
- FAFSA 101: How Your Student Aid Index Is Calculated
- Are You Ready for College Costs? Start Five Years Out
- Roth or Traditional 401(k)? College Aid Considerations
- Already in College? You Can Still Plan for Financial Aid
- Talking to Your Teen About College Costs
- When Your Child Has a Dream School You Cannot Afford
- Tax Planning and College Aid: What Changes the Picture