Investments made into a 529 college savings plan grow tax deferred and can be withdrawn federal income tax free if used for qualified higher education expenses. There are federal gift- and estate-tax incentives and Indiana taxpayers are eligible for a state income tax credit of 20% of contributions up to $1,000 credit per year.
For more information or to sit down and talk with someone about 529 plans, contact Suzanne Heck at 260.487.3348 or email her at email@example.com.
Read more about college savings plans at: https://www.3riversfcu.org/blog/lets-break-it-down-529-plans
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