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ISBN: 157248361XИздательство: Sphinx Publishing
Год издания: 2003
Book DescriptionSimilar to the creation of the 401(k), designed to assist families saving for retirement, Congress has responded to the need of families saving for college expenses by instituting a tax-favored savings vehicle. Created in 1996 and named the "529 Plan," these state-backed plans allow for the saving of funds for secondary education on a tax deferred basis, with eventual withdrawals for educational expenses, tax free. Much like the opportunity afforded by the 401(k) plan, employees will be in a position to payroll deduct funds to be directed to the 529 Plan provider of choice. The book includes thorough, easy-to-understand explanations of the benefits of the "529 Plan." A section of frequently asked questions will help the reader determine how best to take advantage of this tax shelter. A listing of available periodical resources, website addresses and a thorough index makes this title the most important personal finance book available for any parent, grandparent or...