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The 15 lowest-cost 529 savings plans
Looking for low 529 plan fees? These 15 plans offer the lowest costs, according to Savingforcollege.com's Annual Fee Study, conducted in February 2018. The Fee Study compares the lowest and highest 10-year expense totals for all direct-sold 529 college savings plans.
March 24, 2020
How much is your state's 529 plan tax deduction really worth?
In addition to federal tax benefits, many states offer full or partial state tax deductions for contributions to a 529 plan. Over 30 states, including the District of Columbia have such incentives available.
April 11, 2019
How much can you contribute to a 529 plan in 2020?
There are no annual contribution limits for 529 plans. However, each 529 plan has an aggregate contribution limit, ranging from $235,000 to $529,000. Families making a large 529 plan contribution should consider the annual gift tax exclusion amount and find out if they qualify for state income tax benefits.
August 16, 2020
Using a 529 plan to pay for K-12? These states offer tax benefits.
The Tax Cuts and Jobs Act expanded the definition of 529 plan qualified expenses to include up to $10,000 per year in K-12 tuition. Twenty-one states have conformed to the new tax law, and offer a state tax deduction or credit for 529 plan contributions when the funds are used to pay for K-12 tuition.
February 12, 2019
How Does Your State’s 529 Plan Income Tax Benefit Work?
Taxpayers in over 30 states may claim a state income tax deduction or tax credit for contributions to a 529 plan. However, each state has its own rules regarding the type of tax benefit, and the amount of 529 plan contributions eligible for a state tax deduction or credit each year.
February 21, 2019
Learn More About the Top Benefits of Saving with an FDIC-Insured 529 AccountFDIC-insured investments are good options for families who want to save for college taking advantage of the benefits of a 529 savings plan without taking on the risk of investing in the stock and bond markets.
Download our free guide to FDIC-insured plans and learn more about these benefits:
- Tax-free earnings on your savings
- Investing without the risk
- Diversifying your portfolio
- Short-term savings benefits
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