piggy bank for 529 savings plan

What To Know About 529 Plans?

Overview – Income tax savings:   College savings plans, known as 529 plans, derive from Internal Revenue Code Section 529 which provides income tax benefits for college savings. Investments in 529 plans grow tax-free, and withdrawals are not federally taxable.  Any person (the account “custodian”) can open a 529 account for a beneficiary, so long as […]

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