529 Plans
from National City
You can start investing in a 529 college savings plan with no minimum deposit, though there are limits on how much you can contribute each year--$12,000 per child for single parents or $24,000 per child for married couples. Higher contributions are possible but are subject to federal gift tax rules. Earnings are tax-deferred, and withdrawals are free from federal income tax.
529 Plans Reviews
Oct 23, 2008 11:52 pm
This is a great way to save for expensive college tuition costs. You won’t pay taxes while your contributions accumulate, and you can make tax-free withdrawals for qualified higher education expenses. The account beneficiary can be a child, grandchild, niece, nephew, family friend—even yourself. You can start investing with a small amount. Then, when it’s time for college, you decide when… and how much to withdraw.
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529 College Savings Plan Guide
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MarkKantrowitz answered LTUCKER4518's question:
LTUCKER4518 asked:
CLOSING A 529
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MarkKantrowitz answered:
If you have not previously taken any distributions from the two closed 529 ...
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