Saving for education can be a daunting task. It requires careful planning and a high level of commitment. In fact, next to retirement planning, it could be the single largest expense that a family will bear.
529 plans are an excellent method of saving for education expenses. 529 plans are flexible college savings programs that can be used at accredited colleges, universities, graduate schools and most community colleges and vocational-technical schools in the United States, as well as at many foreign institutions.
Some highlights of 529 Plans are:
- Earnings grow federal income tax deferred
- Distributions for qualified education expenses made after December 31, 2001 are federal income tax free*
- Low Minimum Investments
- High investment limits
- Qualified expenses include tuition, room & board, books, fees and necessary equipment (i.e. computer equipment)
- Multiple investment allocation portfolios
- Save on behalf of a child, grandchild, niece, nephew or any loved one.
- Special gift tax exclusions apply to help you make a large initial or catch-up contribution
- Convenient payroll deduction make 529 plans a valuable employee benefit
Click here to request more information about 529 plans
*Under a "sunset provision", these changes are scheduled to expire on December 31, 2010, in the absence of re-enactment. As with all tax-related decisions, consult with your tax advisor.
Securities and Investment Advisory Services offered through Allegheny Investments, Ltd., member FINRA/SIPC. Stone Quarry Crossing, 811 Camp Horne Road, Suite 100, Pittsburgh, PA 15237 (412) 367-3880. Neil Merrell, Allegheny Investments Registered Representative. Allegheny Investments, Ltd. is not an affilitate of The Guard Group. |
