529 Plans
Helping your child, grandchild or other loved ones save for college is an important commitment. There are a variety of vehicles that make this saving easier and also provide a tax break for the contributor. The most prominent and efficient of these opportunities are 529 plans.
529 plans are offered in nearly every state and many states provide for the contribution to be deductible on the state tax return. For 2011 in Iowa for example, the first $2,865 per beneficiary per contributor is deductible from Iowa taxable income (for Iowa residents only). In addition, the earnings in the account are not taxed at the state or federal level as long as the funds are used for qualified educational expenses of the beneficiary.
Iowa offers two different 529 plans – one is self-directed by the owner (College Savings Iowa) and the other allows your financial advisor to manage the portfolio as it grows (Iowa Advisor 529 Plan).
World Trend Financial has recently conducted a study of the Iowa Advisor 529 Plan and is pleased to approve it for our clients benefit.
Contact Us for the advantages of the plan and to begin saving!