Permanent Tax Exemption for 529 College Savings Plans?
Stumble It!
Digg It!
Tip It!
del.ico.us
FacebookThe Senate Finance Committee introduced a bill today that would make the tax exemption for 529 college savings plans permanent. The Senate bill, which has bipartisan support, mirrors one that was introduced in the House last week. The 529 exemption is currently scheduled to expire in 2010, so this is great news for anyone with young kids that are looking for an effective way to save for college.
If you’re looking for more information on 529 plans, check out The Best Way to Save for College by Joseph Hurley, which is a great book on 529 plans. Also check out Joe’s website, Savingforcollege.com, which is an excellent online resource. Then again, you could always just call your rich uncle.
Published on May 24th, 2005 - 3 Comments
Filed under: Education, Saving & Investing
email this article
- bookmark it
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
Related articles...
» The Best 529 Plans – 2009 Edition» What is a 529 Plan?
» The Best 529 Plans, Revisited
» The Worst 529 Plans – 2009 Edition
» Weekly Roundup – 09/08/06
» Tax Credit for Retirement Savings Contributions
» The Least (and Most) Expensive College Towns
» Weekly Roundup – 09/22/06
Was this article useful? Please sign up to receive our content via e-mail:
Great deals...
Readers’ choice...
Recent articles...
- Effect of Foreclosure, Short Sale, and Bankruptcy on Your Credit Score
- DIY Garage Kayak Racks: Fast, Frugal, and Effective
- Lending Club $25 Bonus Reminder
- Coupons are a Waste?
- How to Save Money on Pet Care
- Best HSA Custodian?
- Considering a High Deductible Health Plan
- Pay Back the Homebuyer Tax Credit?
- How to Find a Good Deal
- How Much Does Your Debt Cost?
Recent comments...
- Jennifer: Hi, I used ”Credit Solution” to settle my debt and avoid bankruptcy. They managed...
- Merry: I have two questions. I have been making an extra regular mortgage payment in...
- iris bobi: I went to contract 4-2009 and going to close on my house either December...
- Tim Rosen: Pros and Cons: Pros: a.) A systematic discipline to save/invest on a regular basis, for a...
- Matt Jabs: @Tim: Thanks, I hope this article helps get even one person on the...
- Tim Rosen: Excellent Matt! A very practical, real-world plan that I believe anyone can "flesh out"....
- Jerry Robertson: Your article has great information about the large companies going out of business, but...
- laura: I have a foreclosure on my credit from Jan 2007 and my FICO score...
Most talked about...
- Dave Ramsey is Bad at Math
- $8,000 Homebuyer Tax Credit
- Dish Network Customer Service SUCKS
- How to Claim the First-Time Homebuyer Tax Credit
- $15,000 Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- Would the "Fair Tax" Gut the Economy?
- Tax Stimulus Rebate Payments to Start Early
- Pay Off Mortgage Early? Or Invest?
- The Best Online Savings Accounts (Updated!)
- Life's Too Short to Drink Cheap Beer
- $7500 First Time Homebuyer Tax Credit
I obviously applaud this move but have they really considered the long term effects of all these tax breaks? I seriously think somewhere down the road all these breaks are going to have an adverse effect of some kind if we ever have a population slowdown.
Comment by jim — May 25th 2005 @ 8:29 amI am happy about this. I hope it passes.
As for any adverse effects because of all of the tax breaks, the solution is simple: Put more people to work!! (we have a very generous social/welfare/Section8 system, just make more people work and pay for their expenses and for taxes).
Comment by Jose Anes — May 31st 2005 @ 8:12 am