State Tax Deduction or Credit for Contributions to a 529 Plan
As we approach year-end, don’t overlook the State tax deduction/credit for contributions to a 529 plan. Contributions, including rollover contributions, to an Alabama 529 plan of up to
$5,000 per year by an individual, and up to $10,000 per year by married taxpayers filing jointly who each make their own contributions, are deductible in computing Alabama taxable income.
Generally, a 529 can be applied to qualified higher education expenses incurred by the account beneficiary in the year of the withdrawal. Qualified expenses includes tuition, fees, books, supplies and equipment required for enrollment or attendance as well as room and board, this includes graduate or doctoral studies. Visit our
School of Financial Wellness to learn more about how to manage your finances like the wealthy or contact a member of our team.
Senior Financial Advisor
When: Tuesday, August 17, 2021 at 3:00 - 4:00 PM Where: Online Webinar Speaker: Patricia L. Burris, CFP ® Learn some of the nuances with Social Security at the 1-hour CPE/CLE educational webinar exclusively for CPAs and Attorneys, hosted by Meld Financial.
When: Tuesday, August 24th, 3:00 to 4:00 PM CDT Where: Online Webinar Speaker: Kyle Whittington, CFP ® Join us as we illustrate the importance of shifting from offense to defense and learn how to understand your personal investment allocation needs.
When: Tuesday August 31, 2021 from 3:00 - 4:00 PM Where: Online Webinar Speaker: Patricia L. Burris, CFP ® Learn how Medicare works and when you can get premiums reduced at this educational webinar for CPAs and Attorneys, presented by Meld University. Trending Articles
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Meld Financial, Inc. is an independent wealth management firm located in Birmingham, AL.
We specialize in financial planning, investment management, employee benefits and executive benefits for individuals, families, trusts, foundations and institutions.
We provide independent and objective services melded with customer-driven financial goals.
“We will always recommend the same course of action we would choose for ourselves, given the same circumstances.” -Mark McGarvey, Chairman