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Susan Brown

GIVEN THE NEW TAX LAW, SHOULD I CHANGE THE WAY I THINK ABOUT MY CHILD’S 529 ACCOUNT?

By | FAMILY OFFICE | No Comments

529 education-savings accounts have gained popularity in recent years due to the steep increase in college tuition costs. According to the latest data from the College Savings Plans Network, assets in 529 accounts grew to $275 billion in 2016 from $106 billion a decade earlier. The primary benefits of 529 accounts include no income tax on investment gains, tax-free withdrawals for qualified expenses, and tax deductions on contributions in some states.

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