Is There Really A Complete Guide To 529 Plans?
A complete guide to 529 plans is or more properly- "The Best Way To Save For College: A Complete Guide to 529 Plans" is a book authored by Joseph Hurley, a certified public accountant. It is one of the more popular books on the subject of 529 plans. A complete guide to 529 plans is one of the most popular references available when it comes to the subject of deciphering 529 plans. Updated new editions of a complete guide to 529 plans have been published yearly for some time now and the new 2007 edition is available online and in bookstores nationwide.
A complete guide to 529 plans comes in two sections. The first section contains 12 chapters concerning the workings and specifics of 529 plans, from their history to how they stack up against other college financing strategies and alternatives. The second section of a complete guide to 529 plans contains comparison of each and every 529 plan in all 50 US states and Washington DC. There are almost a hundred 529 plans listed and these programs are compared with each other on a state by state basis.
The first section of a complete guide to contains the following 12 chapters, and tries to break down the esoteric knowledge involved in understanding 529 plans into something that laymen should be able to understand. The first few chapters contain the history of 529 plans, the reasons why one should invest in them, relevant and necessary overviews on the subject.
The next few chapters detail the essentials of 529 plans themselves. This includes what considerations should be taken in terms of financial aid from the state or federal government, the difference between prepaid credits and college savings accounts, income tax considerations, estate considerations, what you should look for in a 529 plan, and other things. The last few chapters save for the very last, deal mostly with comparisons of 529 plans with other solutions for college education financing, including how they stack up against Coverdell Accounts, qualified savings bonds, and other investment alternatives. Chapter 12, the very last chapter of a complete guide to 529 plans concerns the ins and outs of managing your 529 account once you actually started one. It contains some general guideline concerning what you should do and should not do with it, including the management of investment options. A complete guide to 529 plans is one of the most popular books on the subject of 529 plans, with more than 85,000 copies sold. It is a favored reference of families who plan on sending a family member to college. The new edition also claims to be the number one reference on the subject. However, the book has been subject to criticism regarding its presentation of content, with some seeing it as too complicated for laymen to understand. Another critique is that it merely presents data, and in a way that is not particularly useful for some in making decisions on 529 plans. With this in mind, it should be understood that the intricacies of 529 plans and the maze of complications brought about by individual state difference and individual 529 policy difference means that no small guide on 529 accounts could be truly complete. A complete guide to 529 plans is helpful, but no substitute to seeing an attorney who specializes in the tax laws of your state or a tax advisor.
| 