Reply to 529 question - Maryland. Advice needed!

Forum Index » Money and Finances

Reply to "529 question - Maryland. Advice needed!"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I live in MD and chose the investment plan.  But I would not actively encourage my kids to attend MD state schools.  Not that there's anything wrong with them academically, but to me, part of college is getting out from under the thumb of your parents.  So my reasoning may not apply well to your situation since you want your kids to stay in-state (although I would note there are tons of colleges not in MD but within an easy drive of here).  I also share the pp's wariness of the prepaid plan.  I felt the investment plan was simpler, and I know exactly where I stand with it.  We contribute 10k a year total for 2 kids - [b]the max tax deduction we can get for having two accounts[/b] (one in each parent's name) for our two kids.[/quote]

OH, each parent can take $2500 deduction for each child?  So 2kids * 2parents * 2500 = 10000 deduction?  Didn't know that.  Good to know.[/quote]

If you only have two accounts, you get two deductions.  You would need 4 accounts for a $10k deduction.  [/quote]

can you have 2 of the same types of accounts per child?  So each parent can open up an account per child = 4 accounts?[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics