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Investing for college opens a world of opportunities. Your child’s dream career should not be put in jeopardy because of the rising cost of higher education. 529 savings plans offer a convenient, flexible and tax-efficient way to save for school.
The sooner you start putting money into a 529 savings plan — even a small amount — the more you’ll benefit from the tax and other financial advantages. A 529 plan offers:
Contact us today to schedule an appointment with a Milestone Investment Advisor by calling 570-966-7402.
Earnings on nonqualified withdrawals are subject to income taxes and a 10% federal tax penalty.
Participation in a 529 College Savings Plan (529 Plan) does not guarantee that contributions and investment return on contributions, if any, will be adequate to cover future tuition and other education expenses or that a beneficiary will be admitted to or permitted to continue to attend an educational institution. Contributors to the program assume all investment risk, including potential loss of principal and liability for penalties such as those levied for non-educational withdrawals.
An investor should consider, before investing, whether the investor’s or designated beneficiary’s home state offers any favorable state tax treatment or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Consult with your financial, tax or other adviser to learn more about how state-based benefits (including any limitations) would apply to your specific circumstances. You may also wish to contact your home state or any other 529 college savings plan to learn more about the features, benefits and limitations of that state’s 529 college savings plan. Furthermore, the Tax Cuts and Jobs Act that was signed into law on December 22, 2017 allows for up to $10,000 a year per beneficiary in tax free distributions from a 529 Plan if used to tuition incurred for enrollment or attendance at a public, private, or religious elementary or secondary school. Check with your state’s guidelines prior to withdrawing the funds.
*Available in most states; check your state’s rules before you use the funds.
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Tax, legal, or Social Security claiming advice is not offered through, nor supervised by Lincoln Investment or Capital Analysts.
This site is not intended to be a solicitation, offer or sale of securities products or investment advisory services to anyone who resides outside the United States. Lincoln Investment is registered as an investment adviser with the US Securities and Exchange Commission and as a broker dealer in all fifty states. This site has been prepared solely for information purposes and is not an offer to buy or sell any security or instrument or to participate in any particular investment strategy. Lincoln Investment and its Financial Representatives may only transact business in a particular state if first registered and only after complying with registration requirements. When you link to any of the websites provided here, you are leaving this site. We make no representation as to the completeness or accuracy of information provided at these sites. Nor are we liable for any direct or indirect technical or system issues or consequences arising out of your access to or use of these third-party sites. When you access one of these sites, you are leaving Mifflinburg Bank & Trust and assume total responsibility for your use of the sites you are visiting. Securities and services are offered to residents of the state of Pennsylvania; any offers herein are not being specifically directed to any persons in any state other than those states for which the Financial Representative is registered; and securities and services cannot be offered or sold until they are registered in the state and a final prospectus is delivered to investors in the state prior to any sales. Although most states acknowledge the disclaimer procedure, it may not be universally accepted.
Information on this website is not meant to be personalized investment advice; therefore, you should contact Milestone Investment Services for individualized counseling.
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