529 plans are named after the section 529 of Internal Revenue Code 26 U.S.C. This is an investment plan that encourages saving for future higher education expenses. These are state-operated plans that provide a tax benefit. Your choice of school is not affected by the state your 529 plan is from.
Guidelines to help you in your 529 savings:
Retirement savings comes first. The money you save for your child’s college education will count against you in financial aid awards, whereas retirement assets will not. So start putting aside money in your retirement account before starting a college fund.
Past performance. College money should go to an index fund. Choosing savings based on past performance should be relegated to a taxable account where you can take a deduction for disasters.
Allocations. A 529 plan offers an array of choices ranging from US stocks, foreign stocks and bonds. Instead of spending time and energy fussing over the allocation decision, experts recommend that you put 100% of the college fund into an all stock or all bond index fund. Adjust the retirement account to get the family’s overall asset allocation where you want it.
529 plans are usually categorized as prepaid or savings plan. The former lets you prepay all or part of the costs of an in-state public college education. 529 savings plan functions like 401K by investing your contribution in mutual funds.
Benefits of top rated 529 plan:
Federal tax break – The reason that 529 plans are a success is that the earnings from this plan are federal tax-free and it will not be taxed when it is taken out to pay for college.
State tax break – Over 30 states offer partial, or full tax deduction. If your state does not offer this benefit, feel free to choose any other state’s plan.
Provides control – The donor of the account has complete access and legal rights to the funds; they can be withdrawn or used for other purposes (income tax and additional penalty apply).
Low maintenance – This is a very easy way to save for college as automatic investments can be linked to your bank account or payroll deduction plans.
Tax reporting made easy. Contributions made to a 529 plan need not be filed with your federal tax return – Deposits up to 28,000$ for married couples filing jointly will qualify for annual gift tax exclusion.
Flexibility – The 529 plan allows the donor to change the investment options, change the beneficiary or roll over funds.
Open to all – There is no income limit, age limit or annual contribution limit.
A house becomes a home only when one adds their own personal touch to it. Home furnishings, for example, not only reflects the lifestyle of the owner of the home but also their tastes and preferences in interior design and decor. Therefore one should put in some thought before purchasing home furnishings such as sofa covers.
Listed below are a few reasons why every sofa needs a sofa cover.
Sofa covers, thus, are a must for every household. What are you waiting for? Buy one today!
Now that you have decided to buy a modular home, it is important to pick the right manufacturer that will provide you with the home that you always dreamed of living in. The past decade has seen a boom in the modular home manufacturers claiming to be the best in the business. However, you need to make sure that you invest in the right manufacturer that can strikes the right balance between convenience, comfort, and economy.
Here are the relevant factors based on which you should choose the right modular home manufacturer:
Type of modular home- When choosing a modular home manufacturer, you also need to pick the type of modular home based on your budget and floor plan. Manufacturers have different types of standards as well as their signature designs. Make sure you pick a manufacturer with the widest range of designs and customization options.
Manufacturer’s location- This is one of the most important factors when it comes to choosing a modular home. Know where their factory or manufacturing facility is located. Some of the largest manufacturers have more than nine facilities across the county and even in Canada. Pick a manufacturer that has its factory located near your location as it will help you save on transportation cost.
Brand partnership– Modular manufacturers should have partnerships with multiple brands selling kitchen appliances, windows, and doors etc. Having multiple brands gives multiple options and lets you set a wider budget for your modular home. It also saves you time if you are opting for certain customized fittings.
Size of the manufacturer- Working with a large modular home manufacturer has its own set of advantages. It has reduced costs of building and it is a one-stop shop as they have probably partnered with multiple brands. Secondly since they have been in the business for a while, you can rest assured that they know the ropes well. However, if you want the manufacturing of your modular home to get personal attention and guidance, then it is advisable to go for smaller manufacturers.
Apart from the factors mentioned above, most of them have an official website depicting their work. Do your research thoroughly, surf through their website and read customer reviews before choosing the best manufacturer for your dream home.
One of the least likable aspects of the beauty industry is animal testing. Numerous cosmetics brands do product testing on animals. However, there are many other brands that refrain from animal testing and are cruelty-free. Many of these brands use organic ingredients in their products. Thus, it is possible to do your bit for the environment and your skin by using cosmetics of these organic and cruelty-free brands. Here are a few popular cruelty-free brands of cosmetic products.