First, 529 plan contributions are generally deductible on state tax returns if you live in a state that has an income tax.

Since January 2024, however, unused funds from a 529 plan can be rolled over into a Roth IRA account tax-free, in essence turning it into a retirement account. A Roth IRA from Charles Schwab ...

In 2025, the 529 Plan contribution limit rises to $19,000 per contributor. Unlike retirement accounts, the IRS does not impose annual contribution limits on 529 plans. Instead, limits are based on ...

A provision of the SECURE Act 2.0 of 2022 that permits certain assets saved for education to be rolled over into retirement ...

An important part of financial planning for physicians with children can be 529 plans.

Unlike certain retirement plans, there are no yearly contribution limits to a 529 plan. However, all states and the District of Columbia have maximum aggregate contribution limits for each 529 ...

You’ve been hearing about them since your first child was born. You’ve put off opening them nearly as long. And now the day has come. It’s time to seriously consider whether or not to open a 529 for ...

Additionally, said CNBC Make It, "beginning in 2024, beneficiaries will have the option to roll over some 529 plan funds tax- and penalty-free into a Roth individual retirement account (IRA)." ...

Grandparents looking to contribute funds to cover their grandchild's college costs often turn to a 529 plan, a type of account that provides tax benefits for education savings. But grandparents ...

Some families are concerned about saving too much in a 529 plan and not being able to remove excess funds without incurring a penalty. The SECURE 2.0 Act, which became law in December 2022 ...

While you can’t avoid paying taxes altogether, there are several strategies that can help you lower your taxable income, maximize deductions, and take advantage of tax-deferred growth.