COLLEGE SAVINGS 101

Tax

form1040-irs-400x400.jpg

What your education tax benefits may look like in 2018

The IRS recently announced federal tax updates for 2018, which would affect some education related benefits. Find out how these changes could affect your college savings.

| federal tax updates | | 2018 | | estate tax exclusion |
529-plancontributionlimit2015-400x400.jpg

How much can you contribute to a 529 plan in 2017?

While the IRS doesn't specify a dollar amount for annual contributions limits for 529 college savings plans, here are some guidelines making a deposit in 2017.

| tax-advantaged | | savings | | 529 college savings | | 529 plan | | gift tax |
advisor-water-glass.jpg

Introducing the Pro 529 Evaluator

The Pro 529 Evaluator is a tool designed to help financial advisors confidently recommend a 529 college savings plan to their clients. Compare fees, performance, state tax benefits and more.

| Pro 529 Evaluator | | Compare fees | | 529 performance | | state tax benefits |
golden-egg.jpg

15 states with the biggest 529 tax breaks

Saving for college? Check out your home stateís 529 plan. Here are the 15 states that offer residents the most generous tax deductions and credits for contributions.

| 529 | | tax savings | | |
dollars-400x400.jpg

How much is your state's 529 plan tax deduction really worth?

In addition to federal benefits, many states offer full or partial state tax deductions for contributions to a 529 plan. This map helps you get a better idea of how much your state's tax benefit may be worth.

| 529 plan | | tax benefits | | state tax deduction | | college savings plan | | saving for college | | choosing a 529 plan |
contribution-deadlines-400x400.jpg

529 plan contribution deadlines for state tax benefits

Over 30 states offer a tax benefit for 529 college savings plan contributions. Find out your stateís contribution deadline to reduce your 2016 taxable income.

| state tax | | 529 plan | | tax deduction |
529-plancontributionlimit2015-400x400.jpg

How much can you contribute to a 529 plan in 2016?

Make the most of your tax-advantaged savings accounts.

| tax-advantaged | | savings | | 529 college savings | | 529 plan | | gift tax |
5-ways-to-know-400x400.png

5 ways to tell if you're using the wrong 529 plan

There are over 100 different 529 plans available - so how can you be sure that youíre using the best plan to suit your familyís needs? Here are five red flags to look out for:

| preformance | | 529 plans | | college savings | | tax deduction |
jar-grow-plant.jpg

College Savings by the Numbers

Think about how much you want to save for college, the strategies youíre using to do so, and any extra steps you can take to boost your efforts.

| Keith Bernhardt | | Fidelity | | Taxes | | College Saving | | College Savings | | rewards | | |
smart.png

7 states where you can still claim a prior-year 529 plan tax deduction

Residents of these seven states can reduce their prior-year taxable income by making contributions to a 529 college savings plan before the April deadline.

| taxes | | 529 | | college savings |
students-leaturehall-400x400.jpg

Changes to 529 plans may be coming soon

Congressman Kevin Brady (R-Texas), Chairman of the House Ways and Means Committee, filed a bill to extend a variety of recently expired or soon to expire tax provisions.

| H.R. 529 | | Computers | | Tax-free redeposit |
529-plancontributionlimit2015-400x400.jpg

How much can you contribute to a 529 plan in 2015?

Make the most of your tax-advantaged savings accounts.

| tax-advantaged | | savings | | 529 college savings | | 529 plan | | gift tax |
money-cap-coins-400x400.jpg

5 year end tax tips for college savers

Parents and grandparents who use 529 plans to save for college are eligible for a number of tax benefits. This checklist will help you maximize your savings in 2016.

| Tax Benefits | | College Savings | | Gifting | | QHEE |
man-calculating-his-bills-400x400.jpg

Tapping your 529 plan to pay bills

Taking money from a 529 plan can have serious tax consequences and penalties. However, the collapsing stock market may provide some positive aspects to those who choose to make a withdrawal. Here's what to think about as you examine your choices.

| 529 plan | | withdraw | | withdrawals | | money | | tax | | taxes | | pay bills |
collegefootball-400x400.jpg

How to Save for College in the Big Ten States

Just for fun, hereís a look at college savings plan options from the 11 states that are home to Big Ten college football teams:

| saving for college | | 529 plan | | college savings month | | football | | tax deduction |
coininbank-400x400.jpg

Six must-know 529 plan rules

Even with all of the recent publicity surrounding 529 plans, many families are still confused about how they operate. Click through this slideshow to view the biggest misconceptions according to this year's Annual College Savings Survey.

| slideshow | | 529 plans | | 529 plan | | misconceptions | | tax deduction | | grandparents | | parents | | 529 plan rules | | tax benefits | | higher education | | financial aid |
question-girl-400x400.jpg

5 things to consider before doing a 529 plan rollover

Before you make any changes to your plan, ask yourself these five questions.

| Rollover | | 529 plan | | recapture tax | | 529 plans | | non-qualified withdrawal | | taxes | | Coverdell ESA |
newbaby-400x400.jpg

Eight reasons why grandparents love 529 plans

If youíre a grandparent there are a variety of different ways you can help pay for college. Here are eight reasons why we think saving with a 529 plan could be your best bet.

| 529 plan | | grandparents | | saving for college | | college planning | | tax benefits | | estate planning | | financial planning | | investment | | |
mouse-trap-400x400.jpg

Avoid these 529 withdrawal traps

Once you've entered the "withdrawal phase," of your 529 plan, be sure you make the right decisions when tapping your 529 account. Here are six mistakes you'll want to avoid.

| 529 plan | | 529 plan withdrawals | | qualified expenses | | tuition | | tax benefits |
familysaving-400x400.jpg

I won't qualify for financial aid, but I still need help paying for college

What can you do if you make too much for financial aid, but not enough to pay for college out of pocket?

| college savings | | high-income | | fund 529 | | tuition tax breaks | | American Opportunity Tax Credit |
coinsinjar-400x400.jpg

Saving for college? These 6 mistakes can cost you

Parents can maximize their childís education savings by learning about 529 plan rules and avoiding these six costly college planning mistakes.

| saving for college | | paying for college | | 529 plans | | qualified higher education expenses | | savings goals | | financial aid | | scholarships | | American Opportunity Tax Credit |
blue-question-mark-400x400.jpg

Five questions to ask yourself when choosing a college savings strategy

College can be one of the largest expenses a family will ever face. There are a number of different options available to help you reach your goal, and here are a few things to consider before choosing the one thatís right for you.

| 529 plan | | college | | college savings | | college savings options | | investment option | | age-based | | fees and expenses | | tax benefits |
checkwriting-400x400.jpg

Ask an expert: Can I use 529 plan funds to pay for college and get the American Opportunity Tax Credit?

The IRS rules regarding the coordination of 529 plan withdrawals and education tax credits can get a little tricky. Marguerita Cheng elaborates on this frequently-asked question.

| 529 plan | | education tax credit | | American Opportunity Tax credit | | 529 plan withdrawals | | paying for college | | taxes | | ask an expert |
movingfunds-400x400.jpg

Ask an expert: How can I move my funds from one 529 plan to another without incurring taxes?

There are many reasons for considering a change in 529 plans. Marguerita Cheng of Blue Ocean Global Wealth explains how to transfer funds from one 529 plan to another without incurring tax consequences.

| 529 plan | | 529 plan rollovers | | rollover | | no tax | | college savings | | college savings plan | | saving for college | | beneficiary | | IRS |
cover_targaryen-400x400.jpg

10 things you can learn about saving for college from Game of Thrones

What can Jon Snow, Sansa Stark and Tyrion Lannister teach you about planning for college? Find out in this fun Game of Thrones slideshow.

| Game of Thones | | saving for college | | paying for college | | student loans | | estate taxes | | 529 plans | | cost of college | | college savings calculators |
qanda-400x400.jpg

Ask an expert: Can I claim any higher education tax benefits for a non-dependent child?

As the deadline to file your taxes draws near, Marguerita Cheng of Blue Ocean Global Wealth offers an answer to this frequently-asked question concerning higher education tax credits.

| Ask an expert | | 529 plans | | tax credits | | education tax credits | | tax planning | | saving for college |
potogold2-400x400.jpg

5 ways to grow your 529 pot o' gold

Even if you can't depend on the luck of the Irish to help you afford college tuition, here are five simple ways you can use a 529 plan to grow your own pot of gold for college!

| 529 plan | | 529 college savings plan | | saving for college | | St. Patricks Day | | pot of gold | | Irish | | tax benefits | | tax return |
form1040-irs-400x400.jpg

529 plans and your tax return

There are times when 529 account activity will need to be reported to the IRS. Here are five things to consider this tax season if youíre saving for college.

| Taxes | | College Savings | | 529 Plan IRS | | taxable withdrawals |
littlekidheart.jpg

10 things we love most about 529 plans

Getting to college without going into excessive debt isnít easy, but itís also not impossible. Here are 10 reasons why we think 529 plans are the most effective way for families to save for college.

| 529 plan | | college savings | | saving for college | | paying for college | | tax benefits | | financial aid | | contribution limits | | fees and expenses |
familysaving-400x400.jpg

529 plans and their tax benefits are here to stay

College savers can now breathe a sigh of relief as the President plans to drop his proposal to eliminate tax-free withdrawals of 529 college savings plans.

| 529 plan | | college savings plan | | obama | | tax | | withdrawals | | tax proposal |
worriedcouple400x400.jpg

What you need to know about President Obama's 529 tax proposal

In light of President Obama's recent proposal to eliminate the federal tax benefits of 529 plans, here are the facts on the proposal as it currently stands, as well as some ideas on how you can take action against it.

| 529 plans | | Obama | | tax rollback | | qualified withdrawals | | families | | no 529 tax |
guru_mind280x280.jpg

The President's backdoor plan to increase 529 savings

Reaction to President Obama's proposal to impose tax on qualified distributions from 529 savings accounts.

| President Obama | | College Saving | | 529 Plan | | taxes | | community college | | qualified distributions |
handicap-400x400.jpg

The ABLE Act and what it means for your 529 plan

The long-awaited Achieving a Better Life Experience (ABLE) Act has been signed into law by President Obama. Learn about how the 529A accounts created by this Act will help Americans with disabilities better save for the future.

| 529 plan | | saving for college | | disability | | ABLE Act | | President Obama | | Congress | | tax-deferred | | savings account |
malecollegestudent-400x400.jpg

5 reasons to keep your 529 plan open during college

Even if there's only a small balance left in your 529 plan after paying your tuition bills, it's usually a smart idea to keep the plan up and running. Learn why.

| 529 plan | | paying for college | | 529 plan withdrawals | | qualified expenses | | cost of attendance | | grandparents | | tax benefits |
csmsurvey-400x400.jpg

[INFOGRAPHIC] College Savings Month Survey results

This year's College Savings Month survey revealed what factors families feel are most important when choosing a 529 plan. View our new infographic to see a summary of the findings.

| infographic | | college savings | | saving for college | | survey | | choosing a 529 plan | | tax benefits |
grandparents-400x400.jpg

A top college savings resource for grandparents

There are a number of different ways for grandparents to help save for college, yet for many the process can seem overwhelming. Here's an overview of the college savings resources we have available to help grandparents ensure their grandchildren have the best chance for success.

| grandparents | | saving for college | | 529 plans | | tax benefits | | gift tax | | investment | | |
fee-study-400x400.jpg

Savingforcollege.com's 529 Plan Fee Study

While fees associated with direct-sold 529 college savings plans have come down significantly in the last few years, they still need to be taken into consideration. To help you do this this we have just updated our semi-annual fee study.

| fee study | | fees and expenses | | 529 plan | | choosing a 529 plan | | tax benefits | | saving for college | | |
sixcalculators-400x400.jpg

Six calculators to help you save for college

We are constantly striving to come up with new and improved tools that will help you answer some of your toughest college savings questions. See how these six calculators can assist you with your budgeting and planning decisions:

| college savings | | 529 plan | | calculators | | student loans | | cost of college | | saving for college | | tax benefits | | scholarships |
529_plan_benefits-400x400.jpg

Benefits of 529 plans - How to Save for College HQ PODCAST

In this "How to Save for College HQ" Podcast, Celest Horton and Kathryn Flynn discuss the benefits of 529 plans and the importance of starting to save as soon as possible.

| 529 plan | | saving for college | | cost of college | | tax benefits | | |
calcmoney-400x400.jpg

Don't be fooled by 529 plan sticker shock

Many critics of 529 plans who are hesitant to invest because they feel that the fees associated with these types of plans will eat away at their earnings. However, these claims leave out one of the most lucrative advantages of a 529 plan - the tax benefits.

| 529 plan | | cost of college | | saving for college | | 529 plan performance | | tax benefits |
gradgift-400x400.jpg

10 reasons to give the gift of college education

Itís graduation party season- looking for the perfect gift? Whether you are shopping for a kindergartener, eighth grader or even a high school graduate, here are 10 reasons why a contribution to a college savings fund will always be appreciated.

| 529 plans | | college savings | | graduation | | graduation gift | | 529 plan contribution | | state tax benefits | | grandparents |
investmentperformance-400x400.jpg

Do 529 plans beat their benchmark?

A recent analysis conducted by Joe Hurley finds that historically when their unique benefits are taken into account, 529 plans can be a very lucrative choice when saving for college.

| college savings | | 529 plan | | 529 plans | | mutual funds | | college | | college investing | | saving for college | | tax benefits | | benchmarks | | investment strategies |
myths-400x400.jpg

Clearing up the confusion: Five popular 529 plan myths

Recent survey data has indicated that parents' misunderstanding of 529 plans may be a significant barrier to their use of them. In this slideshow we present five of the biggest 529 plan myths along with the facts to set the record straight.

| college savings | | slideshow | | 529 plans | | 529 plan | | myths | | scholarships | | financial aid | | tax benefits | | tax penalty | | college savings | | college savings options |
myths-400x400.jpg

Truth be told - Common 529 plan misconceptions

The results of our Annual College Savings Survey show that there are still many people who are unclear about the functionality of 529 plans. In this post, we discuss six common misconceptions and reveal the correct answers to help clear up some of the confusion.

| 529 plan | | 529 plans | | college savings | | parents | | grandparents | | myths | | financial aid | | scholarships | | tax deductions |
moneychart-280x280.jpg

Annual College Savings Survey results: Make the most of your savings

As promised, here is the first in a series of blog posts based on the results of our Annual College Savings survey. We begin by examining how our readers are currently saving for college and why.

| 529 | | 529 plans | | college savings | | college savings survey | | 529 plan benefits | | tax benefits | | tax deduction | | saving for college |
moneyjar280x280.jpg

The Bank of Grandma and Grandpa - New video featuring our very own Joe Hurley!

In the following video Joseph Hurley, Founder of Savingforcollege.com, explains the different ways Grandparents can assist with paying for tuition, taking issues like financial aid and taxes into consideration.

| grandparents | | saving for college | | 529 plans | | financial aid | | gift tax | | college | | college savings |
guru_mind280x280.jpg

Tax reform and 529 plans

Joe shares his thoughts on the Chairman of the House Ways and Means Committee's recently-proposed comprehensive tax reform package and its effect on tax incentives for education.

| 529 plan | | 529 plans | | college savings | | tax reform | | Internal Revenue Code | | Chairman Dave Camp | | tax incentives | | education tax incentives |
familysaving-400x400.jpg

Parents Reveal Top College Savings Strategies

Fidelity recently surveyed parents across the country to find out what college savings goals families have set for this year and how they intend to stick to them.

| College | | Savings | | Resolutions | | Study | | fidelity | | tax refund |
Which way?

The anti-529ers

Financial advisers who do not like 529 plans may have their reasons, and I respect their opinions, but I suspect that many of their anti-529 comments come more from a lack of knowledge and experience than from objective data.

| 529 plan | | tax-advantaged investment | | registered investment advisers |
 

Reset email successfully sent.
Please check your inbox.

Close
page loadtime mark

Advertisement


close