Christian Business Networking Association

Indiana 529 Plan - 20% Indiana Tax Credit

Tax-deferred growth
Your account earnings grow tax deferred from both federal and state taxes.

Federal and state tax-free withdrawals
Qualified withdrawals from your CollegeChoice 529 account are free from federal and Indiana state taxes.

Special tax credit for Indiana residents
Indiana taxpayers are eligible for a state income tax credit of 20% of contributions to their CollegeChoice 529 account, up to $1,000 credit per year.

Gift-tax benefits
Contributions qualify for the federal $13,000 annual gift exclusion.

Estate planning benefits
With CollegeChoice 529, you can reduce your personal taxable estate by making five years' worth of gifts (up to $65,000; $130,000 for married couples filing jointly) in one lump sum

For more information regarding this topic or any other tax advice, please contact me at 765-289-5366 (Extension 209)

Tags: Accounting, CPA, College, College Savings, Tax, Tax Advice, Tax Credits

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Comment by Bob Hutt on July 1, 2009 at 2:29pm: Hi Ryan: Liked your article on 529! I would like to do morning coffee or lunch one day soon if you can. I think there may be a couple of marketing segues between our firms and I would like to initiate a discussion. Would you be open to that?

To Our Success,

Bob Hutt
The Access Companies