Home | Business News | Browse by Publication | T | The Tax Adviser

Sec. 529 planning opportunities.

Publication: The Tax Adviser
Publication Date: 01-OCT-02 		Format: Online - approximately 923 words
Delivery: Immediate Online Access
Full Article Title: Sec. 529 planning opportunities.(tax planning after the Economic Growth and Tax Relief Reconciliation Act of 2001)

Article Excerpt
Qualified tuition programs (Sec. 529 plans) have become popular recently due to revisions by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Sec. 529 distributions for paying qualified higher education expenses are no longer subject to tax. Prior to the EGTRRA, the earnings portion of these distributions was taxable to a beneficiary.

Sec. 529 plans can be useful in estate planning, moving funds out of a taxpayer's estate to minimize estate tax and avoid gift tax. Generally, a taxpayer can give $11,000 ($22,000 for married couples) per year to any individual without incurring gift tax. However, under Sec. 529, an individual can contribute $55,000 ($110,000 for married couples) to a beneficiary's Sec. 529 account in one year, without incurring gift tax, by so electing on a gift tax return fled in the gift year....

Access Full Article, Compliments of Goliath

Read the FULL article now - Try Goliath Business News - FREE!   
You can view this article PLUS...

  • Over 5 million business articles
  • Hundreds of the most trusted magazines, newswires, and journals (see list)
  • Premium business information that is timely and relevant
  • Unlimited Access

Now for a Limited Time, try Goliath Business News - Free for 3 Days!
Tell Me More   Terms and Conditions

Get Goliath Business News for 1 year - Just $99 (Save 65%)
Tell Me More   Terms and Conditions

Already a subscriber? Log in to view full article



More articles from The Tax Adviser
Employer FICA tax on unreported tip income.(Federal Insurance Contribu..., October 01, 2002
Tax Court denies jurisdiction on underlying tax liability., October 01, 2002
Loan to S corporation may not generate taxpayer basis., October 01, 2002
Deducting third party investment mgnt. fees under Sec. 67(e)., October 01, 2002
Using A and C reorganizations in restructurings., October 01, 2002

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.