The 529 College Savings Plan

by Feigenbaum, Richard A.; Morton, David J.

• ISBN13: 9781572482388
• ISBN10: 1572482389
• Format: Paperback
• Copyright: 2002-08-01
• Publisher: Sphinx Pub

Table of Contents

Introduction	xiii
Frequently Asked Questions	xv
The Basics of 529 Plans	1	(14)
Internal Revenue Code Section 529
What the College Savings Account Really Is
Establishing a College Savings Account
Rules, Rules, Rules
Future Changes in the Law
Chapter 1---At a Glance
Helping to Save for College	15	(18)
Taxes and Tax Deferred Savings
College Savings Accounts Versus other Methods of Saving for College
College Savings Plan/Section 529 Advantage
Coordination of Hope Scholarship Credit with Section 529 College Savings Plans
Chapter 2---At a Glance
Taxation of College Savings Plans	33	(12)
Basic Tax Rules
Qualified Higher Education Expenses
Eligible Institution
Taxes on Distributions
Deductions for Contributions-Federal
Deductions for Contributions-State
State Taxation on Withdrawals from a College Savings Plan
Chapter 3---At a Glance
Beneficiary Planning	45	(8)
The Basics
Changing the Beneficiary
Making Changes to an Existing College Savings Plan
Chapter 4---At a Glance
Ownership of a 529 Plan	53	(4)
Lifetime Issues
Transfer at Death
Trusts as Owners
Chapter 5---At a Glance
The Role of the Advisor	57	(6)
Issues for the Advisor
Role of the Advisor in Corporate-Sponsored Plans
Chapter 6---At a Glance
Estate Planning and the College Savings Plan	63	(12)
Federal Estate Planning Basics
College Savings Plans-Estate Planning Rules
Creative Estate Planning
The ``Double Dip'' Opportunity
The Unintended Gift Tax Consequence
Ownership Issues and Estate Planning
Post Death Trust Issues
Death of a College Savings Plan Beneficiary
Strange Possibilities
Chapter 7---At a Glance
The ``New'' Employee Benefit	75	(8)
Understanding Employee Benefit Plans
Expanding Benefit Plans
Adding 529 Plans to the Package
Determining if Your Employer Offers a 529 Plan
A Word of Caution
Chapter 8---At a Glance
Scholarship Programs and the 529 Plan	83	(10)
Traditional Charities and College Savings Plans
Establishing the Scholarship Program
Universities and Colleges-Compensation Planning
Corporate-Sponsored College Savings Accounts-Compensation Planning
Chapter 9---At a Glance
The Future of 529 Plans	93	(4)
Upromise™ and BabyMint™
Affinity Programs
Chapter 10---At a Glance
Glossary	97	(8)
Appendix A: Internal Revenue Code Section 529	105	(6)
Appendix B: State By State Summary of Plans and Plan Managers	111	(104)
Appendix C: State Program Internet Links	215	(6)
Index	221