Give a holiday gift that doesn't end when the batteries run out.
The cost of a college education continues to rise annually. Funding a loved one's college savings plan may be the perfect gift this holiday season. Edward Jones can work with you to develop a college savings strategy that's right for your family. We offer many different options to save, including 529 college savings plans. We'll show you how a gift now has the potential for tax benefits for you, family members and the child. So help a child save for college and give the gift that lasts a lifetime.
Withdrawals used for expenses other than qualified education expenses may be subject to federal and state taxes, plus a 10% penalty. Contributions to a 529 plan may be eligible for a state tax deduction or credit in certain states for those residents. Student and parental assets and income are considered when applying for financial aid. Generally, a 529 plan is considered an asset of the parents, which may be an advantage over saving in the student's name. Make sure you discuss the potential financial aid impacts with a financial aid professional. Tax issues for 529 plans can be complex. Please consult your tax advisor about your situation. Edward Jones, its financial advisors and employees cannot provide tax or legal advice.
Edward Jones in Ocean Beach is located at 5083 Santa Monica Ave, Suite 1A. Contact them at 619-223-8357.
