It’s 5/29 - Do you have a 529 Plan? It has never been easier to save for a child’s future!
A 529 Educational Savings Plan is an investment account that offers tax-efficient savings for future college expenses
- Earnings grow tax free!
- Tax distributions used for qualifying education are tax-free
- The account owner maintains control over the funds
- The beneficiary has dedicated funds for their education
- The beneficiary can be updated to any eligible family member of the current beneficiary
- Investment options offer potential growth for funds
- Contribution limits are high
- Many States offer income tax deductions for contributions
- NYS allows up to $10,000 deduction for married couples ($5,000 for single taxpayers)
