Section 529 Plans: The Good and The Bad
Third Quarter 2002|Jim Williams| Section 529 plans have become quite popular because they allow you to save for future college education costs while eliminating federal income taxes on qualified distributions. These plans have no income restrictions and contribution amounts are very generous. The beneficiary of a 529 plan can be anyone you wish, including the account owner, with no age limitations. Whether they’re a good idea depends upon your circumstances.