529 Plans


529 Plans are state-sponsored investment vehicles for college education. They come in two forms: pre-paid tuition programs and college savings plans. 529 Plans are governed by Internal Revenue Code 529 and provide tax-deferred growth potential and federally tax-free withdrawals for qualifying college expenses such as tuition and fees, room and board, books, supplies, and equipment. Plans vary by state and may offer benefits to residents.

A 529 plan allows for contributions up to $255,000, depending on the plan. However, contributions are gifts; therefore, the $13,000 annual gift limit should be considered.

Investors should consider, before investing, whether the investor's or designated beneficiary's home states offers any state tax or other benefits that are only available for investment in such state's qualified tuition program.

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The employees of Warren Wealth Management do not provide tax or legal advice. As with all matters of a tax or legal nature, you should consult with your tax or legal counsel for advice.

Investment Types

For Individuals:


529 Plans
Annuities
Coverdell ESA
Life Insurance
Roth IRA
Traditional IRA

For Businesses:


401(k) Plans
403(b) Plans
457(b) Plans
Money Purchase Plans
Profit Sharing
SEP IRA
SIMPLE IRA