Federal gift taxes will be due, however, if you give $19,000 or more in 2025 to any one beneficiary, or $38,000 for clients who file jointly. (Alternatively, clients can give a lump sum of up to ...

The 529 structure solves for tax efficiency, control over use of the gift and takes advantage of continued long-term compounding. Current gift tax rules allow for each individual to gift up to $ ...

Imagine a college savings account that not only funds your child’s education but also supports your grandchildren, ...

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

The states with the highest 529 plan contribution limits allow as much as $575,000 to be saved for a single beneficiary’s ...

Other contribution and tax considerations for 529 plans. The 529 plan has become a popular way to save for college expenses — ...

Reason No. 2 to use a 529: Gift tax benefits. Taxpayers are allowed to gift a certain dollar amount each calendar year that is free of gift taxes. Normally, that means you can make an $18,000 gift ...

account. Other Ways To Gift A Higher Education While a 529 plan is typically a great vehicle for college gifting, it’s not always the best option. There are lots of ways to help loved ones save ...

"A $50,000 gift, for example, would reduce aid eligibility by over $20,000." Grandparents hoping to chip in for a grandchild's college education can open a 529 plan themselves or contribute to a ...

Santa Fe, NM, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Education is a pathway to success—a pathway that often requires a funding strategy from families and students. Proactive savings through a 529 education ...

Tax season may not be the most exciting time of year, but it can come with some silver linings—like the opportunity to save for your loved one’s education while ...

Savers may also exceed the IRS gift tax exclusion, creating tax implications, though it won’t be an issue for most people. One of the many benefits of 529 plans is there is no federal limit on ...