{"id":655634,"date":"2018-03-31T12:00:05","date_gmt":"2018-03-31T12:00:05","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=655634"},"modified":"2018-03-31T12:00:05","modified_gmt":"2018-03-31T12:00:05","slug":"529-plans-a-great-way-to-reduce-next-years-taxes-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=655634","title":{"rendered":"529 Plans: A Great Way to Reduce Next Year\u2019s Taxes"},"content":{"rendered":"
\"529<\/a><\/div>\n

By Andy Snyder<\/a><\/span> <\/p>\n

<\/div>\n

Editor’s Note: Today’s article comes to you from Andy Snyder, founder of Manward Press.<\/p>\n

You may know Andy as The Oxford Club’s former Editor-in-Chief. But now he’s managing his passion project full time \u2013 a publication aimed squarely at leading men to richer, more successful lives. (Sorry, ladies, but think of it this way\u2026 happy men mean happy dens!)<\/p>\n

If you want to get more of Andy’s missives \u2013 like the one below \u2013 plus the tickers of three stocks he says every man should buy right away, click here and we’ll sign you up for his free daily emails.<\/p>\n

Donna DiVenuto-Ball, Managing Editor<\/p>\n

Anybody who knows me knows my kids.<\/p>\n

I’m one of \u201cthose guys.\u201d Stand beside me for too long and I’m bound to tell you what they’re up to and show you some pictures.<\/p>\n

Not only are they at the center of my life\u2026 but they’re a heck of a way to slash my taxes.<\/p>\n

As I’ve discussed, one of the riskiest (and often dumbest) financial decisions today’s generation of youngsters must make is whether to go to college\u2026 and how much to pay for it.<\/p>\n

If they make poor decisions, they’ll be riddled with debt (several of my friends have kids with school debt that easily rivals a mortgage) and will earn a degree that’s virtually useless \u2013 like (gulp) puppetry or bowling management.<\/p>\n

It’s one of the greatest threats to American kids.<\/p>\n

I refuse to let my children get sucked into the trap. They will graduate from college \u2013 if that’s the route they choose \u2013 with zero debt.<\/p>\n

They certainly won’t get a free ride \u2013 not from this cheapskate.<\/p>\n

No, thanks to a little-understood strategy, their college is already covered.<\/p>\n

Not only are my wife and I letting Father Time pay the majority of their tuition\u2026 but we’re slashing our tax burden as he does it.<\/p>\n

Most serious investors have heard of 529 plans. But few realize their true power.<\/p>\n

They are not just for young parents. Far from it.<\/p>\n

They’re perfect for grandparents\u2026 aunts\u2026 uncles\u2026 anybody who wants to boost their own economic fate by lowering their taxes.<\/p>\n

[iu-adbox]
\nWashington Did Good?
\nCongress created the plans in 1996 as a way to spark interest in saving for college education.<\/p>\n

Earnings generated through the plans are not subject to federal tax and, in most cases, are not subject to state tax when the money is used to pay for necessary college expenses (the list of qualified expenditures is actually quite expansive).<\/p>\n

Right off the top, that could boost your profits by as much as 20%.<\/p>\n

But in at least 34 states, the tale gets even better.<\/p>\n

You can deduct 529 contributions from your state income tax each year. Because I live in Pennsylvania, I can remove as much as $28,000 worth of income\u2026 per beneficiary.<\/p>\n

And what’s really powerful is that the law allows you to transfer funds from one beneficiary to another without triggering a taxable event.<\/p>\n

In other words, in many instances it makes sense for high-income earners to open their own 529 plans just for the annual deduction on their state income taxes.<\/p>\n

They may \u2026read more<\/a> <\/p>\n

Source:: Investment You<\/a><\/p>\n

The post 529 Plans: A Great Way to Reduce Next Year’s Taxes<\/a><\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Andy Snyder Editor’s Note: Today’s article comes to you from Andy Snyder, founder of Manward Press. You may know Andy as The Oxford Club’s former Editor-in-Chief. But now he’s managing his passion project full time \u2013 a publication aimed squarely at leading men to richer, more successful lives. (Sorry, ladies, but think of it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/655634"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=655634"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/655634\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=655634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=655634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=655634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}