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ENCORE: College savings tips and 529 Day
Kassouf Principal and Financial Planner Michelle Pike, CFP®, AEP® joins the Kassouf Podcast Network in honor of 529 Day, or National College Savings Day. Named for Section 529 of the Internal Revenue Code, a 529 Plan can help you save for your children's education while offering potential tax savings.
The state of Alabama allows taxpayers to deduct up to $5,000 (single) and $10,000 (married filing jointly) of their contributions to a 529 Plan. Withdrawals for higher education expenses from the Alabama-sponsored plan are free from federal and Alabama state income tax. Plans and potential tax savings vary by state. Please consult your state's 529 Plan website for more information.
Alabama 529 Plan Website: https://www.collegecounts529.com/
DISCLAIMER:
The Kassouf Podcast Network is provided for general information purposes only and do not constitute accounting, legal, tax, or other professional advice. Visitors should not act upon the content or information found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other professional.
To ensure compliance with requirements imposed by the IRS and Circular 230, visitors should know that any federal tax advice contained in this website and related podcasts is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
We try to provide content that is true and accurate as of the date of publishing; however, we give no assurance or warranty regarding the accuracy, timeliness, or applicability of any of the contents. We assume no responsibility for information contained on this website and disclaim all liability in respect of such information, including but not limited to any liability for errors, inaccuracies, omissions, or misleading or defamatory statements.
Links to external websites are provided solely for your convenience. We accept no liability for any linked sites or their content and remind you that we have no control over their content. When visiting external web sites, users should review those websites’ privacy policies and other terms of use to learn more about, what, why and how they collect and use any personally identifiable information.
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By KassoufKassouf Principal and Financial Planner Michelle Pike, CFP®, AEP® joins the Kassouf Podcast Network in honor of 529 Day, or National College Savings Day. Named for Section 529 of the Internal Revenue Code, a 529 Plan can help you save for your children's education while offering potential tax savings.
The state of Alabama allows taxpayers to deduct up to $5,000 (single) and $10,000 (married filing jointly) of their contributions to a 529 Plan. Withdrawals for higher education expenses from the Alabama-sponsored plan are free from federal and Alabama state income tax. Plans and potential tax savings vary by state. Please consult your state's 529 Plan website for more information.
Alabama 529 Plan Website: https://www.collegecounts529.com/
DISCLAIMER:
The Kassouf Podcast Network is provided for general information purposes only and do not constitute accounting, legal, tax, or other professional advice. Visitors should not act upon the content or information found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other professional.
To ensure compliance with requirements imposed by the IRS and Circular 230, visitors should know that any federal tax advice contained in this website and related podcasts is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
We try to provide content that is true and accurate as of the date of publishing; however, we give no assurance or warranty regarding the accuracy, timeliness, or applicability of any of the contents. We assume no responsibility for information contained on this website and disclaim all liability in respect of such information, including but not limited to any liability for errors, inaccuracies, omissions, or misleading or defamatory statements.
Links to external websites are provided solely for your convenience. We accept no liability for any linked sites or their content and remind you that we have no control over their content. When visiting external web sites, users should review those websites’ privacy policies and other terms of use to learn more about, what, why and how they collect and use any personally identifiable information.