College tuition continues to increase at about twice the general inflation rate.  On average, tuition tends to increase about 8 percent per year.  This means that for a baby born today, 当孩子开始上大学时，大学费用可能是现在的三倍多.

With tuition rates rising at such a rapid pace, college planning is crucial. It’s ideal to start the college investment process when your child is young, but it’s never too late to start taking advantage of college savings plans.

The Tax Cuts and Jobs Act, signed into law December 2017, expanded the 529 savings plan to include expenses for private, public, and religious education from kindergarten through 12th grade. Beginning in 2018, parents can withdraw up to $10,在小学或中学注册的529计划中免税000英镑, private, or religious school. Learn more about reducing your child’s Kiddie Tax burden under the new law.

What is a 529 college savings plan?

A 529 college savings plan, named after Section 529 of the Internal Revenue Code, 教育储蓄计划是由国家或教育机构运作，旨在帮助家庭为教育费用留出资金吗.

Benefits and potential drawbacks of 529 college savings plans

A growing number of parents and grandparents are taking advantage of these plans. In 1999, investments in 529 savings plans totaled $5.75 billion. In 2014, this amount rose to $244 billion.

529 college savings plans offer a wide range of benefits.

  • 529计划中的收入是联邦免税的，当这些钱被用来支付合格的高等教育费用时，将不会被征税. Unlike other investment accounts, earnings from savings account interest, bond interest, 当股票和共同基金的所有者拿到一份分配并将其用于合格教育费用时，股票和共同基金的价值增长是不需要纳税的. Qualified education expenses include tuition, fees, books, and room and board. The purchase of computer or peripheral equipment, 计算机软件或互联网接入及相关服务也被认为是合格的教育费，只要它主要是由受益人在合格的教育机构注册的任何年份使用.
  • 在大多数州，如果将收入用于合格的高等教育费用，则无需缴纳州税. In Tennessee, 来自田纳西州和非田纳西州529计划的捐款和分配在所有田纳西州都是特别豁免的, county,and municipal taxes.
  • The owner of the 529 plan remains in control of the funds. With few exceptions, the named beneficiary has no legal rights to the funds, so you can assure the money will be used for its intended purpose.
  • A 529 plan is very low maintenance. 你可以通过该计划的网站轻松注册，并设置自动投资，直接链接到你的银行账户. 该账户的持续投资管理由聘请为项目经理的外部投资公司或由州财务办公室进行.
  • Generous contribution limits exist, regardless of income level. Unlike Roth IRAs and Coverdell Education Savings Accounts, 529 plans have no income limits, age limits or annual contribution limits. 还有终身出资限额，根据不同的计划而有所不同，从23.5万美元到40万美元不等.
  • You choose the investment strategy that’s right for you and your student.
  • You can rollover your funds into another 529 plan once in a 12-month period.
  • 您可以在同一年向529储蓄计划和Coverdell教育储蓄账户捐款. 你也可以在从529计划中提取资金来支付合格教育费用的同一年申请希望奖学金或终身学习学分.
  • Your child may choose any accredited college, university or vocational school.
  • The savings account may be transferred to another family member. This is beneficial if, for example, 计划受益人获得奖学金，并且不需要529计划中的钱.
  • A 529 plan offers simplified tax reporting. Contributions to a 529 plan do not have to be reported on your federal tax return. 直到你提款的那一年，你才会收到表格1099来报告应税或非应税收入.
  • 529 savings plans offer favorable federal gift tax treatment. Contributions are considered completed present-interest gifts for gift tax purposes, which means they qualify for the $14,000 annual gift tax exclusion. You can also elect to treat a 529 plan contribution of $70,000 as if it were made over a five calendar-year period and completely avoid gift tax. Making this election does require the filing of a gift tax return.
  • 出于联邦税收目的，储蓄计划的捐款不被视为遗产的一部分.  However, 如果今天的赠予是在五年内进行的而账户所有者在五年内去世, a portion of the gift will be included in the estate.

虽然使用529大学储蓄计划为大学储蓄有很多好处, there are also a few potential drawbacks.

  • You must use the money for college. 如果你把钱取出来，并把它用在合格的教育费用以外的事情上, the earnings will be subject to a 10 percent penalty. 根据你当前的纳税等级，这些收入也要缴纳联邦和州的税收. If your children complete college and there is money remaining in the account, 这笔钱还将缴纳联邦和州税，以及10%的罚款. Therefore, when investing in a 529 college savings plan, it’s a good idea to err on the side of underestimation.
  • 投资组合的分配每年只能改变两次或受益人的变化.
  • Your investment options are limited. For example, 如果你发现一个机会，你的钱将获得更高的回报，并决定把钱从你的529储蓄计划转移到一个不同的投资工具, you will be subject to the 10 percent penalty and federal and state taxes.

不断上涨的学费使得开始为孩子的大学教育存钱变得比以往任何时候都重要. 529储蓄计划对于那些想要享受可观的税收节省和许多其他福利的人来说是一个很好的选择.

高等教育的计划可能是一个压力重重的负担，无疑是一个家庭将承担的最大支出之一. 529计划是一种极好的资源，可以让家庭早早地为这些不可避免的和必要的成本做出明智的计划. 当涉及到大学储蓄时，一个专业的税务顾问可以帮助你进行选择.

LBMC税务提示是为客户和公司的朋友提供信息和教育服务. 该沟通是高层次的，不应被视为采取任何具体行动的法律或税务建议. 个人在做出任何与税收或法律相关的决定之前，应该咨询他们的个人税收或法律顾问. In addition, the information and data presented are based on sources believed to be reliable, but we do not guarantee their accuracy or completeness. 本资料于注明日期为准，如有更改，恕不另行通知.

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