 |
 |
|
|
||||||
Ideal - Idaho 529 College Savings PlanAn Ideal 529 account gives benefits which include earnings growing Federal and Idaho income tax-deferred, and as long as the earnings are used to pay for qualified higher education expenses are also Federal and Idaho Income tax free. You may also be eligible for a Idaho State tax deduction of up to $4,000 for a single taxpayer and $8,000 on a joint return.You can open a Ideal - Idaho 529 College Savings Plan with as little as $25 and there is no maximum contribution, other than the upper limit of the account is $310,000. Of course, you would need to pay attention to gift tax limits. You could contribute up to $65,000 in one year ($130,000 for joint filers) and treat it as being spread over 5 years for Federal gift tax exclusion purposes. For more information on the Ideal - Idaho 529 College Savings Plan, visit the Ideal website at http://www.idsaves.org/. The Ideal 529 Plan offers a few investing alternatives which are managed by the Vanguard Group. One is an age-based portfolio that will grow more conservative as the beneficiary closes in on college age. There are also six fixed allocation choices, ranging from aggressive to conservative. The difference between these and the age-based portfolio is that these do not change unless you switch to another portfolio. There are no guarantees with these choices and your investments could go down in value, should the markets not be favorable. You should also check with a financial advisor and tax advisor to see if a 529 investment is right for you.
Idaho Scholarships
|
Register to Win a $10,000 Scholarship! Winner will be chosen on June 15th, 2012
The Scholarship & Grant Guide Super-Fast Scholarship & Grant Search!
|
||||||||
 |
 |
|
|
Ideal - Idaho 529 College Savings Plan