529 CONTRIBUTIONS FOR 2019
/Time is running out to contribute to a 529 plan for 2019.
A 529 plan is a great way to fund a child’s college education by contributing in the early years, and watching it grow until they graduate from college.
For Hoosiers, the Indiana College Choice 529 plan allows Indiana residents to receive a 20% Indiana tax credit, up to $1,000. A tax credit is better than a tax deduction since a credit comes straight off your Indiana taxes.
We are reminding clients to make their contribution by the end of the year.
If you’ve been meaning to open a 529 plan, you can open one online by following these instructions:
Go to: www.collegechoicedirect.com
Click on “Enroll Now”
New account owners (enter your information)
About your successor account owner (This is an optional step; a successor does not have to be named)
About your beneficiary (enter the student’s information)
full name
address
social security number
date of birth
Choose the investments; there are target date funds or you can select your own mix of funds
Pick a funding method
Choose your delivery method
Create username and password
Complete your account by clicking on SIGN
If other friends and family members want to contribute to the same 529 plan, you will need to provide them with a Ugift® code. To obtain this code, go to www.collegechoicedirect.com and log into your account. Under “features and benefits” click on Ugift and follow the instructions. Once you have a Ugift code, you can share it with others. I would also advise adding it to your passwords list.
Once your friends and family have the Ugift code, they can go to www.ugift529.com and enter the code and complete the template that pops up. They will receive their own Indiana tax credit which is 20% or up to a maximum of $1,000.
