IRC Section 529 plans are a valuable way to save funds for a child’s college or other education expenses, but the fact remains that many clients don’t fully understand the rules that apply to these types of accounts. The issue is compounded by the changes made to the 529 plan rules under Trump’s tax reform bill. Here are the top ten things that clients need to know about funding a Section 529 plan in 2019.
For an expanded version in pdf, with fuller explanations, check out:
(Related: Top 10 Estate Planning Tax Facts for 2019)
- Check out previous coverage of the post-reform child tax credit in Advisor’s Journal.
- For in-depth analysis of college savings options for clients, see Advisor’s Main Library.
- Your questions and comments are always welcome. Please post them at our blog, AdvisorFYI, or call the Panel of Experts.