529 College Savings Plans

Posted by pfadvice
September 8, 2006

Some good news for those that are saving money for your kids using 529 plans or who have been considering beginning college savings with them. One sticky point for many people was that the federal tax deduction for the 529 plans was set to expire in 2010. Most people felt that this deduction would be would renewed, but since the law had it expiring in 2010, there was always a chance that it wouldn’t be.

Fortunately, this is no longer an issue. The Pension Protection Act of 2006 was passed in mid August and a portion of it makes the tax benefits for 529 plans permanent.

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Information: September 8th, 2006; 4 Responses

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Categories: Investing; Saving Money

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Reader Comments

Comment Number:: 1
Written by:: Single Ma
Posted on:: September 8, 2006 at 4:07 pm

Fabulous news!

Comment Number:: 2
Written by:: fivecentnickel.com
Posted on:: September 9, 2006 at 8:11 pm

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Comment Number:: 3
Written by:: Be A Good Dad » Archives » Saving for kids college
Posted on:: September 9, 2006 at 8:45 pm

[...] I just heard about some good news for people investing for their kids’ college using 529 College Savings Plans. The federal tax deduction for the 529 plans that was set to expire in 2010 has been changed to be a permanent deduction. [...]

Comment Number:: 4
Written by:: Patrick
Posted on:: September 11, 2006 at 1:46 pm

Awesome. Thanks for the update!