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A 529 plan, also called a Qualified Tuition Program, [ 1] is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary. In 2017, K–12 public, private, and religious school tuition were included as qualified expenses for 529 plans along with post ...
Unlike other tax-advantaged accounts, there are no federal contribution limits on 529 plans. ... you can contribute to a single beneficiary’s 529 plan. These state-imposed caps range from ...
Here are five of the top 529 plans: Ohio’s 529 plan, CollegeAdvantage. New York’s 529 plan, Direct Plan. Wisconsin’s 529 plan, Edvest. West Virginia’s plan, Smart 529 WV Direct College ...
You — along with family members and friends — can contribute to the 529 plan each year by depositing money in the account. Annual contribution limits vary, ranging from $235,000 in Georgia and ...
Virginia 529 College Savings Plan. Virginia529 (VA 529) or Virginia529 College Savings Plan is the independent state agency responsible for Section 529 qualified tuition programs offered by the Commonwealth of Virginia. [ 1] Since 2018, Morningstar has named Virginia's Invest529 plan among the top 529 college savings plans in its annual ...
A 529 plan allows a participant to set up a tax-advantaged account to allow a beneficiary to use the funds for qualified education expenses. The participant deposits after-tax money in the account.
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