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A 529 college savings plan is a special tax-advantaged account that lets parents, grandparents and just about anyone else save money toward a child’s education costs. Individual states, state ...
Contributions to 529 college savings plans are made with after-tax dollars. Once money is invested in the account, it grows tax-free, and withdrawals from the plans are not taxed when the money is used for qualified educational expenses. [2] Only 2.5 percent of all families had 529 college savings accounts in 2013. [3]
Plus, 529 savings plan contributions can be invested, similar to the structure of a 401(k), and any investment profits used to pay for qualified education expenses are 100% tax-free.
The IRS doesn’t impose a contribution limit on 529 plans, unlike for other tax-advantaged accounts ... A 529 college savings plan offers a flexible and tax-advantaged way for parents to save for ...
A 529 plan is a college savings plan that provides tax advantages when used for qualifying purposes. A 529 plan is something like a Roth IRA or 401(k) plan designed for educational savings.
A 529 plan is a tax-advantaged savings plan that allows you to pay for education expenses. ... A prepaid tuition plan lets you buy college tuition credits to use in the future at today’s prices ...
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