Can Filing Taxes Make Your Child Smarter?

PHILADELPHIA, Feb. 20 /PRNewswire/ -- It may sound shocking, but believe it or not, filing your taxes can help children reach their educational potential. In fact, the Futuretrust(R) college savings program and H&R Block(R) have partnered to help American families jumpstart their college savings as they file their taxes.

According to H&R Block, one of the nation's leading tax advisors, this partnership is a natural one. "Financing a child's college education can be a daunting task, so it's important to get professional advice about the tax implications involved," said Kevin Leek, Director of Business Development for H&R Block. "At H&R Block, Futuretrust members get a discount on tax preparation and learn about the tax-smart way to save for college and maximize deductions for college expenses."

This has never been more important. Based on current tuition-increase trends, the college costs for children born in 2008 could be a staggering $150,000* per year for a private four year institution or an only slightly less staggering $112,000* for an out-of-state public four year institution. The single most important thing parents can do to ensure their children don't leave college with an astounding debt load is to start saving now.

Rebecca Matthias, President and Founder of Futuretrust, cannot stress this enough. "Futuretrust works hard to help educate young families about the importance of saving for college and starting as early as possible. I encourage all families to make saving for college a top priority. Working with H&R Block allows us to share invaluable information with our members regarding the smartest ways to plan, file taxes and optimize on refunds -- every little bit truly counts."

Simply use the Futuretrust MasterCard(R) to pay for tax preparation services at H&R Block retail offices and receive multiple benefits -- a $20 discount off fees and a 1% rebate deposited directly into a 529 college savings account. Prefer to file from home? Visit Futuretrust's website to receive a 25% discount towards H&R Block's TaxCut(R) Online products and a 10% rebate when purchasing the digital program through Futuretrust.

And, according to the recent Futuretrust Hopes & Dreams Survey, 91% of parents say paying for their child's college education is very important to them. A Futuretrust Mastercard helps them do so, even if they can't afford a traditional savings account. It's easy -- simply use the Futuretrust Mastercard for normal daily purchases to receive a 1% rebate on everything you buy (even more from selected partners). The rebate goes straight into a 529 account, building a better future for the graduates of tomorrow. Be sure to pay off balances monthly to avoid costly finance charges.

With all the responsibilities parenthood brings, isn't it nice to know that there are painless ways to ease the burden? For more information, log onto http://www.futuretrust.com/, or http://www.hrblock.com/ .

* Figures based on collegeboard.com estimates for children born in 2008,
combined with historic tuition increase trends.


About Futuretrust

Futuretrust is a MasterCard-linked college savings program that enables families and friends to get a 'jump' on saving for college. Futuretrust has no membership fee. Rebates are automatically contributed to a tax-advantaged 529 college savings plan of the member's choice. Members earn a minimum of 1% every time they make a purchase with the Futuretrust MasterCard, accepted at millions of locations. Members also earn additional college savings when they use the Futuretrust MasterCard at thousands of partners in the Futuretrust Preferred Merchant Network consisting of major retail chains, catalogs, restaurants and on-line merchants. Members can also earn college savings rebates when they buy, sell, finance, or refinance a home, as well as moving services and home warranty transactions. Applications are available at all Motherhood(R) Maternity, Mimi Maternity(R), A Pea in the Pod(R) and Destination Maternity(R) locations, online at http://www.futuretrust.com/ or by calling 1.888.trust68.


About Mothers Work

Mothers Work, Inc. is the world's largest designer and retailer of maternity apparel, using its custom TrendTrack(TM) merchandise analysis and planning system as well as its quick response replenishment process to "give the customer what she wants, when she wants it." As of January 31, 2008, the company operates 1,534 maternity locations, including 763 stores, predominately under the trade names Motherhood(R) Maternity, Mimi Maternity(R), A Pea in the Pod(R) and Destination Maternity(R), and sells on the web through destinationmaternity.com and brand-specific websites. In addition, Mothers Work distributes its Oh Baby by Motherhood(TM) collection through a licensed arrangement at Kohl's(R) stores throughout the United States and on Kohls.com.


About H&R Block

H&R Block Inc. is a leading provider of tax, financial, mortgage, accounting and business consulting services and products. It is the world's largest tax services provider, having prepared more than 400 million tax returns since 1955. H&R Block and its subsidiaries generated revenues of $4.9 billion and net income of $490 million in fiscal year 2006. The company operates in four principal business segments: Tax Services (income tax preparation and advice via in-office, online and software solutions); Mortgage Services (non-prime mortgage originations and loan servicing); Business Services (tax, accounting and consulting services for midsized businesses); and Consumer Financial Services (investment and financial advisory services, retail mortgage loans and banking services). Headquartered in Kansas City, Missouri, H&R Block markets its services and products under three leading brands -- H&R Block, Option One and RSM McGladrey. For more information visit H&R Block's Online Press Center at http://www.hrblock.com/presscenter.