In some state sponsore - Study guides, Class notes & Summaries

Your tax liability is 30 percent of you1Your tax liability is 30 percent of your $60,000 salary, and Which is not one of the advantages of 529 college savings plans? Question 5 options: 1) You pay no taxes on the account's earnings. 2) Anyone (your mom, dad, grandparents, uncles, aunts, etc.) can contribute to the account and, in some state-sponsored plans, the contribution is deductible from state taxes. 3) Even if you are currently in college, you can contribute to a 529 plan, and the...