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{"id":11871,"date":"2013-09-18T04:01:09","date_gmt":"2013-09-18T04:01:09","guid":{"rendered":"http:\/\/www.seonewswire.net\/2013\/09\/529-plans-a-good-choice-for-many-but-have-disadvantages\/"},"modified":"2013-09-18T04:01:09","modified_gmt":"2013-09-18T04:01:09","slug":"529-plans-a-good-choice-for-many-but-have-disadvantages","status":"publish","type":"post","link":"http:\/\/www.seonewswire.net\/2013\/09\/529-plans-a-good-choice-for-many-but-have-disadvantages\/","title":{"rendered":"529 Plans A Good Choice for Many, But Have Disadvantages"},"content":{"rendered":"

<\/p>\n<\/p>\n

Section 529 plans are tax-advantaged investment accounts that allow parents and other benefactors to efficiently save for a beneficiary’s higher education. They offer tax-free growth, tax-free distributions for education expenses and, in some states, a reduction of state tax liability. But they have some disadvantages.<\/p>\n

The variety of investment options available to 529 plans is increasing, but still somewhat limited, especially when compared with trusts.<\/li>\n<\/ul>\n
- The IRS allows just one reallocation of assets per year within a 529 plan, unlike other tax-deferred plans, such as 401(k)s.<\/li>\n<\/ul>\n
  - Withdrawn funds not spent on education expenses are subject to income tax plus a 10 percent penalty and may be subject to the recapture of any state tax deductions taken, similar to early withdrawals from a retirement account.<\/li>\n<\/ul>\n
    - Even without a 529 plan, individuals may make tax-free gifts of tuition expenses. The 529 plan thus compromises the individual’s ability to deplete his or her estate by using up exclusion (more…)<\/span><\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
      Section 529 plans are tax-advantaged investment accounts that allow parents and other benefactors to efficiently save for a beneficiary’s higher education. They offer tax-free growth, tax-free distributions for education expenses and, in some states, a reduction of state tax liability.…<\/span><\/p>\n
      Read more ›<\/a><\/div>\n
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