Q: Can you help me with a plan for my grandchildren or children?
A: Yes, we have several options available for our clients to start and fund a 529 Plan.
Q: Is there really a tax advantage to these plans?
A: Yes, there is the tax advantage of tax-free accumulation for educational purposes.
Q: Are my contributions tax deductible?
A: No, but you do not have to report the income and gains from the plan.
Q: Are my contributions subject to gift tax?
A: No, but there are annual limits and lifetime limits for contributions per plan.
Q: Does the child have to attend the educational institution for the state in which I start a plan?
A: No, they may attend any accredited educational instutition.
Q: Do I have to use my state's plan, it does not have the investment options that I would like?
A: No, you can contribute to a plan set up by any state. The plans differ greatly in options and fees.
BELOW IS A LINK TO 529 PLAN TERMS AND ANSWERS
TO MANY QUESTIONS THAT INVESTORS HAVE
