College Funding 529 Plans
One Of The Best Tools Available To Help Save For A College Education Is A 529 College Savings Plan.
A 529 plans are taxexempt saving plan designed to encourage saving for future college cost.
529 plans, legally known as “qualified tuition plans” are sponsored by states, state agencies, or educational institutions and are authorized by section 529 of the Internal Revenue Code.
529 plans, legally known as “qualified tuition plans” are sponsored by states, state agencies, or educational institutions and are authorized by section 529 of the Internal Revenue Code.
COLLEGECHOICE ADVISOR 529 SAVINGS PLAN THE 529 PLAN SPONSORED BY THE STATE OF INDIANA
AVAILABILITY
● Anyone including friends, grandparents, and other family members may contribute to the the Plan; all that’s needed is a valid Social Security number or Taxpayer Identification number.
● The beneficiary (student) can be any age (with a valid Social Security Number).
● As an account owner, you maintain control of the assets at all times. You can even change beneficiaries*.
● There is no income limit for participation.
TAX ADVANTAGES
● Your Plan earnings grow free from federal and state income taxes.
● Indiana taxpayers are eligible for a state income tax credit of 20% of contributions to a CollegeChoice Advisor account, up to $1000 credit per year.**
● Distributions for qualified highereducation expenses are free from federal and Indiana state income tax.***
● You may contribute as much as $14,000 per beneficiary each year ($28,000 for married couples filing jointly) without incurring gifttax consequences. In fact, you can choose a special election that allows you to treat a $70,000 contribution ($140,000 married filing jointly) as if it was made over a five year period.+
USING YOUR MONEY
● You can apply CollegeChoice Advisor assets to any eligible accredited college, university, or institution of higher education, not just those in Indiana.++
● Distributions may be applied to any qualified higher education expense including tuition, fees, certain room and board expenses and even books and supplies for undergraduate and/or graduate education.
● Anyone including friends, grandparents, and other family members may contribute to the the Plan; all that’s needed is a valid Social Security number or Taxpayer Identification number.
● The beneficiary (student) can be any age (with a valid Social Security Number).
● As an account owner, you maintain control of the assets at all times. You can even change beneficiaries*.
● There is no income limit for participation.
TAX ADVANTAGES
● Your Plan earnings grow free from federal and state income taxes.
● Indiana taxpayers are eligible for a state income tax credit of 20% of contributions to a CollegeChoice Advisor account, up to $1000 credit per year.**
● Distributions for qualified highereducation expenses are free from federal and Indiana state income tax.***
● You may contribute as much as $14,000 per beneficiary each year ($28,000 for married couples filing jointly) without incurring gifttax consequences. In fact, you can choose a special election that allows you to treat a $70,000 contribution ($140,000 married filing jointly) as if it was made over a five year period.+
USING YOUR MONEY
● You can apply CollegeChoice Advisor assets to any eligible accredited college, university, or institution of higher education, not just those in Indiana.++
● Distributions may be applied to any qualified higher education expense including tuition, fees, certain room and board expenses and even books and supplies for undergraduate and/or graduate education.
Learn More About Indiana’s CollegeChoice Advisor 529 Saving Plan
Call Today: 765-458-7708
Caskey Financial Group
P.O. Box 284
Liberty, Indiana 47353
It's never too late to start a plan