College Savings Plans in Kenosha

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Need assistance putting together college savings plans in Kenosha? T. Heller Financial Services is here to help your children's collegiate career get started off on the right foot! We know and understand the IRS laws and regulations related to college savings plans, and we want to put it to work for you! 

Create College Savings Plans in Kenosha, WI

The first step to setting up a college savings plan is to understand the rules and how these tax-advantaged investments may benefit your child's future. Known as 529 plans (after Section 529 of the IRS code), all withdrawals made from 529 plans for qualified education expenses remain free from federal income tax! Allowed expenses for higher education can include tuition, books, software, computers and related technology, room and board, and other fees. 

A Variety of Investment Choices

Investments in 529 plans look much like a 401(k) or IRA retirement plan that includes mutual funds or similar investments. When setting up the plan, we will work with you to choose among aggressive stock portfolios, blended portfolios of stocks and bonds, a guaranteed interest account, and/or even a CD portfolio depending on your preference and objectives for the investment. 

For more information or to get started setting up a college savings plan in Kenosha, contact us today and set up an appointment! 

 

A 529 plan is a college savings plan that allows individuals to save for college on a tax-advantaged basis. Every state offers at least one 529 plan. Before buying a 529 plan, you should inquire about the particular plan and its fees and expenses. You should also consider that certain states offer tax benefits and fee savings to in-state residents. Whether a state tax deduction and/or application fee savings are available depends on your state of residence. For tax advice, consult your tax professional.  Non-qualifying distribution earnings are taxable and subject to a 10% tax penalty.