For College Cash, Plan On A 529
Posted on June 30th, 2006
Section 529 plans have long been a preferred method of getting the funds to pay for college.
Some recent changes to the tax codes have made these plans even more viable.
These savings plans offer tax deferment and tax-free withdrawals when used for educational expenses.
Maine and kansas have started what experts are hoping will be a new trend: allowing tax breaks no matter what state you make 529 contributions in. This allows you to retain benefits after moving to a different state, and gives you the freedom to pick the best plan for you, regardless of state tax laws.
Be sure to read the entire article for some great financial tips, and you'd do well to check out the Saving For College website while you're at it.
(Photo Source: Better Investing)
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