529 Plan Article

Is Helping to Fund a College Education for your Children or Grandchildren one of your Goals?

By Will Johnston

First State Bank Investment Services*

If so, the Iowa Advisor 529 Plan could be a part of your solution.

Here are a few of the important benefits that the Iowa Advisors 529 Plan offers you and your beneficiaries:

  • Anyone – including friends, grandparents, and other family members – may contribute to the plan.
  • The beneficiary can be any age, live in any state, and go to school almost anywhere.
  • Your Plan earnings grow free from federal and state income taxes.
  • As much as $3,045 (for 2013, adjusted annually for inflation) per beneficiary account, per taxpayer, may be deducted from Iowa taxes.
  • Withdrawals for qualified higher education expenses are free from federal and Iowa state income taxes.
  • You may contribute as much as $13,000 per beneficiary each year ($26,000 if married, filing jointly) without incurring gift tax consequences. You can also choose a special election that allows you to treat $65,000 in contributions within a single year ($130,000 if married, filing jointly) as if they were made over a five-year period.

Stop in or give me a call if you would like to explore how the Iowa Advisor 529 Plan might fit into your plans!

Contact Will Johnston, First State Bank Investment Services *, located at First State Bank, 505 Second St, Webster City,515-832-2520 or 800-557-0520.

This general information was provided by “IAdvisor 529 Plan” and is not intended as tax advice. Please consult your legal or tax advisor about the impact of these rules on your individual situation. Investors should consider their investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing.

*Securities and advisory services offered through Cetera Advisor Networks LLC, member FNIRA/SIPC. Investments are:

  • Not FDIC/NCUSIF insured
  • Not insured by any federal government agency
  • Not a deposit
  • Not financial institution guaranteed
  • May lose value  

Cetera is under separate ownership from any other named entity. 

*All situations are different, please consult your financial professional for information regarding your needs and suitability issues." "An investor should consider the investment objectives, risks and charges and expenses associated with municipal fund securities(529 Plans) before investing. More information about municipal securities is available in the issuer’s official statement. The official statement should be read carefully before investing.

Will may be reached at FSB Investment Services*, located at First State Bank, 505 Second St., Webster City, IA, 515-832-2520, johnstonw@ceteranetworks.com

*Investments are: Not FDIC/NCUSIF insured. May lose value. Not financial institution guaranteed. Not a deposit. Not insured by any federal government agency. Cetera is under separate ownership from any other named entity.

This site is published for residents of the United States only. Financial Advisors of Cetera Advisor Networks may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every advisor listed. For additional information please contact the advisor(s) listed on the site, visit the Cetera Advisor Networks site at https://www.ceteraadvisornetworks.com/.  

Securities and advisory services offered through Cetera Advisor Networks LLC, member FINRA/SIPC. Cetera is not affiliated with any other named entity.

Individuals affiliated with this broker/dealer firm are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

Online Privacy Policy | Privacy Promise | Business Continuity | Important Disclosures | Order Routing

Website Design For Financial Services Professionals | Copyright 2020 AdvisorWebsites.com. All rights reserved