Tax benefits are one of the most attractive components of any 529 college savings plan because they can help the account grow faster.
Although all 529 plans share the same federal tax benefits, the state tax benefits vary widely. That’s because each plan is sponsored by an individual state, and each state has its own tax rules.
Unfortunately, many families simply select their own state’s plan without realizing that another state’s plan may offer better tax benefits.
Make sure clients know the facts before selecting a 529 plan because it may have an impact on their family’s finances for years to come.
Learn more about the 529 plan managed by OppenheimerFunds by visiting www.ScholarsEdge529.com.