Superfund a 529 Plan: What You Should Know

Superfund a 529 Plan

A powerful way to start saving for college and remove money from your estate is to superfund a 529 plan.  Superfunding a 529 plan is where you contribute multiple years’ worth of the gift tax exclusion amount to a 529 plan, file a gift tax return using Form 709, and average the gifts over five […]

529 Plans: The Complete Guide to Saving for College

529 Plans The Complete Guide to Saving for College

College is expensive.  The average public, out-of-state tuition is $23,630 for the 2023-2024 school year.  If tuition rates increase at a 3% rate per year over the next 18 years, the average public, out-of-state tuition could cost about $40,228.  The total cost over four years would be $168,300.  For most people, paying out of pocket […]