You can receive a New York State income tax deduction of up to $5,000 ($10,000 for married couples filing jointly).For example, tuition, fees, room and board, books, supplies, and equipment required for enrollment or attendance at any eligible post-secondary school in the world.
FIDELITY COLLEGE SAVINGS PLANNER FREE
Your withdrawals are free from federal and New York State income tax when used to pay for qualified education expenses (Qualified Withdrawals).Unlike a taxable account, your assets compound tax-free, giving you better potential for growth over the long-term (Contributions are not deductible for federal income tax purposes.).Significant tax advantages are an attractive feature of the Program. You can choose from three age-based options and 13 individual portfolios, giving you significant flexibility in managing your investment strategy. You can even set up an account for yourself. EligibilityĪnyone - a parent, grandparent, relative, or friend - can set up an account for a future college student, and there are no restrictions based on age, income, or state of residence. To see the acceptable forms of contributions or to enroll, visit NY's 529 College Savings Program website or call the Program toll-free at 877-NYSAVES (87). You may add, change, or stop your payroll deductions at any time. You may contribute as little as $15 or as much as you want for each investment option for an account per pay period. New York's 529 College Savings Program Direct Plan provides New York families with a tax-advantaged way to save for college, and allows City employees to save for college through easy payroll deductions.
0 kommentar(er)
