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  2. 529 plan vs. Roth IRA: Here’s how families can use both to ...

    www.aol.com/finance/529-plan-vs-roth-ira...

    While the maximum contribution in each state’s plan may differ, any contributions over the maximum gift tax exclusion – $18,000 for 2024 – could make you liable for gift taxes. In contrast ...

  3. What to Know About the 529 Grandparent Loophole

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    A 529 plan can be a powerful way to save for college, offering tax-free growth and other tax benefits. These accounts are so powerful, in fact, that many grandparents choose to open them for their ...

  4. These States Have the Highest 529 Plan Tax Deductions - AOL

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    Opening a 529 plan is a tax-advantaged way to set aside money for college. The money you contribute can grow tax-deferred and qualified withdrawals are tax-free. While there is no federal tax ...

  5. 529 plan - Wikipedia

    en.wikipedia.org/wiki/529_plan

    529 plans are named after section 529 of the Internal Revenue Code — 26 U.S.C. § 529. While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for ...

  6. Rhode Island Department of Revenue - Wikipedia

    en.wikipedia.org/wiki/Rhode_Island_Department_of...

    The Rhode Island Department of Revenue ( RIDOR) is a state agency of Rhode Island responsible for collection of taxes and distribution of state revenue, as well as administration of state laws governing driver licensing, and motor vehicle sale and registration. The current Director of the Department of Revenue is Guillermo Tello, appointed by ...

  7. State and local tax deduction - Wikipedia

    en.wikipedia.org/wiki/State_and_local_tax_deduction

    t. e. The United States federal state and local tax (SALT) deduction is an itemized deduction that allows taxpayers to deduct certain taxes paid to state and local governments from their adjusted gross income. The SALT deduction intent is to avoid double taxation by allowing taxpayers to deduct state and local taxes from their federal income.

  8. 529 plan contribution limits for 2024: What college savers ...

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    A 529 plan is a tax-advantaged way for parents to save for their children’s education expenses. The IRS doesn’t impose a contribution limit on 529 plans, unlike for other tax-advantaged ...

  9. Generation-skipping transfer tax - Wikipedia

    en.wikipedia.org/wiki/Generation-skipping...

    Taxation in the United States. The U.S. generation-skipping transfer tax ( a.k.a. "GST tax") imposes a tax on both outright gifts and transfers in trust to or for the benefit of unrelated persons who are more than 37.5 years younger than the donor or to related persons more than one generation younger than the donor, such as grandchildren. [1 ...

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