Radical Personal Finance
Joshua J Sheats, MSFS, CFP, CLU, ChFC, CASL, CAP, RHU, REBC is a financial planner who teaches people how to live a rich life now while building a plan for financial freedom in 10 years or less. He mixes creative approaches to lifestyle design, deep-dive financial planning techniques, and hard-core … read more
154-Masterclass on 529 Plans a.k.a. Qualified Tuition Programs - Part 2: Savings Plans
http://Patreon.com/RadicalPersonalFinance
We continue our Masterclass on 529 plans today. If you haven't heard part 1, Go back and listen to episode 138 first. http://radicalpersonalfinance.com/138-masterclass-on-529-plans-a-k-a-qualified-tuition-programs-part-1/ You'll need it for context on today's show.
Today we dig into more of the how-to regarding savings plans. I also spend a good bit of time explaining the state income tax benefits for you. Depending on your situation, these may or may not be important for you.
Topics:
- Which states give a tax deduction for 529 contributions and how much?
- Which states offer tax parity?
- How to take advantage of the 529 State Income Tax Loophole.
- How to figure out if you should take advantage of a plan with lower fees or a plan with a better deduction.
- Who should own the plan--parents, grandparents, or child?
- How do 529 plan distributions get reported?
- What are the best 529 plans to choose for each state?
- How can you get free money for college?
Enjoy the show!
Joshua
- Part 1 of this 529 Plan series: http://radicalpersonalfinance.com/138-masterclass-on-529-plans-a-k-a-qualified-tuition-programs-part-1/
- Which states offer a 529 Plan deduction? http://www.finaid.org/savings/state529deductions.phtml
- Free money for college: http://www.fastweb.com/financial-aid/articles/free-money-for-college-savings
- Information on Individual Development Accounts: http://cfed.org/programs/idas/ida_basics/
- If this information has been useful to you, please support the show on Patreon! https://www.patreon.com/radicalpersonalfinance
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