WebDirections qualified tuition plan (“Bright Directions” or the “Program”) established and maintained by the Treasurer pursuant to Section 529 of the Internal Revenue Code of 1986, as amended (“Section 529” and the “Code”, respectively), and the Illinois State Treasurer’s Act (15 ILCS 505/16.5) (the “Act”). WebTax advantages. Your 529 savings are tax-free while in the account, so any potential growth is yours to use for college. When it’s time to use the money for school, withdrawals for qualified expenses have the potential to be tax-free. Your home state may offer additional tax breaks, too.
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WebWhen choosing how to save for college, choose a plan that allows you to save on taxes and is easy to spend on a variety of college expenses. Learn more about tax deductions when saving with a 529, what higher education expenses qualify for a withdrawal, and how a 529 affects your financial aid. Save on Taxes by Rolling Over to Bright Start. WebIllinois has two 529 college savings plans, as well as a prepaid tuition program. The direct-sold Bright Start College Savings Program and the Bright Directions Advisor-Guided 529 College Savings Program are … fab pizza burgess hill
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WebFree customer support for FreeTaxUSA users. Ask tax questions and get quick answers online. We support income tax, rebate, refund, deduction questions and more! WebIllinois offers two 529 college savings plans -- one direct-sold and the other advisor-sold. The plans offer relatively high maximum contribution limits at $450,000, and Illinois allows an annual tax deduction of $20,000 per couple for … WebCall the special transition assistance line at 844.473.8558. Please note, our highly-regarded Bright Directions Advisor-Guided 529 College Savings Program will not be subject to these changes. The Bright Start website — BrightStartSavings.com — and toll-free phone number — 877.432.7444 — will remain the same, for your convenience. 1 An ... does insurance cover pain and suffering