529 College Saving Plans

Found 15 Articles.

new-looks-in-529-plans

The New Rules for 529 College Savings Plans & K-12 Tuition

February 4, 2019

The last tax reform law provided a tool that’s such a good way to help pay for a family member’s education… Many states are worried it will break their budgets! You’re probably familiar with 529 college savings plans. These are sort of like Roth IRAs for college savings. They were created in the 1990s, and […]

Alternative Uses of 529 Plans

August 10, 2018

Suppose you set up a 529 college savings plan for a child or grandchild, and now the youngster doesn’t need it. Maybe the child received a full scholarship or won’t be attending college. This article explains that you have several option. The most logical is to change the beneficiary to another child or grandchild, or […]

New 529 Plan Rules

June 18, 2018

The Tax Cuts and Jobs Act made some changes to 529 savings plans, which I discussed in Retirement Watch. This article says many parents still aren’t making use of the provision and explores the reasons why. They may be concerned their funds in a 529 plan could reduce their child’s chances of being awarded a […]

529 Accounts Now Can Be Used for K-12 Tuition

March 26, 2018

Tax reform provided a tool that’s such a good way to help pay for a grandchild’s education that many states are worried it will break their budgets. You’re probably familiar with 529 college savings plans. These are sort of like Roth IRAs for college savings. They were created in the 1990s. Every state sponsors one […]

529 savings plans

Why Grandparents Should Like 529 Savings Plans

August 1, 2014

Grandparents are contributing more to their grandkids’ educations than in the past, and the best way to do this is through a section 529 college savings plan. Even when it isn’t clear a grandchild will attend college, 529 savings plans are good estate and financial planning tools to implement. A number of factors cause grandparents […]

Best 529 College Savings Plans

October 24, 2013

Morningstar is out with its annual ranking of section 529 college savings plans. These are plans that qualify for a slew of tax benefits under section 529 of the tax code. I’ve written about the plans in detail in the past. They’re great estate planning tools and provide an excellent way to sock money away […]

estate planning

The Estate Planning Tricks of Withdrawing Cash from 529 Plans

September 1, 2011

Tax-saving vehicles never are as straightforward as they seem. Section 529 college savings plans sometimes fall into that category. You need to consider a few Estate Planning tricks when taking distributions from the plans. The basics of 529 plans are simple. Anyone can put money in a plan for the benefit of someone else. There […]

estate planning

A Loophole for 529 Plans Losses

December 1, 2008

Many people who saved for college through 529 savings plans face substantial losses in their accounts. There is a silver lining in the tax law, and it is one reason 529 plans are among the best ways to save for education. Income and gains earned by the 529 account are sheltered. If the account balance […]

October 2020:

Congress Comes for your Retirement Money

A devastating new law has just been enacted, with serious consequences for anyone holding an IRA, pension, or 401(k). Fortunately, there are still steps you can take to sidestep Congress, starting with this ONE SIMPLE MOVE.
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