CollegeCounts is the 529 College Plan for the State of Alabama. This particular 529 College Fund focuses on the fact that all of the educational and professional opportunities of tomorrow results from the savings put back today. By investing in this special college fund now, not only are you preparing for the expenses of postsecondary education that will be incurred in the future, but, you are able to enjoy a wide range of benefits such as numerous tax advantages, a high level of flexibility with the 529 college fund, low costs, and numerous investment options. In this brief guide, you will learn about CollegeCounts, the high-rated Alabama 529 College Plan.
College Ensures Success as an Adult
The children that you love today will, one day, become adults. It is your job to ensure that steps are taken that will allow those children to experience success during their adult life. One of the most basic, yet most important, steps that should be taken is ensuring that they have the funds available to attend college once they graduate high school. CollegeCounts is a special 529-based college tuition program that provides you and your family with numerous flexible and highly beneficial investment options that are designed to assist you in constructing a savings account that will fund the postsecondary education of the child that you love. By opening up this type of 529 college plan today, you are ensuring many successful tomorrows!
There are many different tax advantages associated with the 529 college fund offered by the State of Alabama. First, the savings plan has tax-deferred growth. That, in itself, is an amazing benefit! Next, you and your family have the unique ability to experience tax-free withdrawals for college expenses that are considered to be “qualified”, according to the CollegeCounts 529 college fund. Alabama taxpayers that make contributions to the college savings account are immediately eligible for a state-based income tax deduction in the amount of up to an amazing $5,000 per person. If filing jointly, this could be an amount up to a whopping $10,000! As time progresses, you will quickly discover that all of these tax advantages add up and contribute to the growth of your Alabama CollegeCounts 529 college plan!
Setting up a 529 college plan with the State of Alabama is very easy. You may set the account up online, or download a form, print it out, and forward it by mail. Once you have the CollegeCounts plan all set up, your role will be “Account Owner”. This will entitle you to the ability to name the beneficiary of the account, or, even change the beneficiary completely. You may also select and even change the investments that are made on the account, control the direct withdrawals associated with the account, and manage all other features, directly, on the internet. The CollegeCounts 529 college plan is the way to go and grow your money if you want to ensure the success of your loved one’s future!