529 Savings Account
Better Savings for Higher Learning
With so much to gain, this is a great way to save for an education. All parents, grandparents and benefactors are qualified to take advantage of federal tax exclusion for the purpose of higher learning.
All states offer at least one type of prepaid tuition plan or college savings plan. Fees, investment options, restrictions and tax advantages vary by state. We can help you look through state programs to find the exact investment that works best for you.
There are no income limits on the donors to 529 plans, meaning anyone is qualified and able to take advantage of the savings. Each account can accept contributions of up to $16,000 per year — and of course you can have one account for every child.
At its inception, each new account can be "front loaded" to accept up to $65,000, or five years worth of contributions, without the burden of gift taxes. And when it comes time to pay for college, withdrawals used for qualified educational purposes are excluded from federal income taxation.
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Find a financial advisor near you or contact us directly today. We look forward to talking with you about all of your financial goals and investment options.