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Question for any CPA's/accountants...
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Laura1976
Member since 5/05 5754 total posts
Name:
Laura
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Question for any CPA's/accountants...
My BIL and SIL are very pompous and are always making comments like "we make too much money". His latest thing is that he makes "too much money" to start a 529 plan for their son. Is that possible? What exactly is the benefit of the 529 plan when doing your taxes. Its not like they are making a million a year or anything either.
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Posted 9/3/08 9:05 AM  |
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Kara
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Member since 3/07 13217 total posts
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Re: Question for any CPA's/accountants...
There are tax advantages to contributing. Do a google search and you'll find tons of information... I don't believe 529 plans have income limits, though ESAs do.
http://www.statefarm.com/mutual/sc/invest_know/cover529.asp
Message edited 9/3/2008 9:10:29 AM.
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| Posted 9/3/08 9:07 AM |
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