Get the most tax advantage out of your 529 College Savings Plan

Tax time is a good time to review you 529 college savings plans to get the maximum benefit from the money that you contribute.  Even though we are now in 2014, some states will allow you to contribute money during the first quarter of 2014 and take a 2013 state tax deduction on those funds.  However, contributing to the plans is only part of the overall strategy of using 529 plans.  Stretching out tax-deferrals and sidestepping estate tax levies are other areas that you need to investigate to make sure you are getting the most from your plan.

For more read, “Maximizing 529 College Savings Plan Tax Breaks.”