Join us for our next event: Rollover and Play Dead. Does Your Estate Plan Really Work? with speaker Lynn Campisi, J.D., LL.M.
The webinar will be held on April 20th at 3:00 PM Central Time. There is no cost to attend, but you must register in advance.
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.
Michael Guilsher
Senior Financial Advisor
