Tax-Advantaged Plans
Education Plans
Less tax to pay means more money for school
These programs are convenient and tax efficient. Contributions aren't deductible, but there's no federal income tax (or state tax, in some cases) when you spend the accumulated funds on qualifying education expenses. Unused money can be tranferred to another student in the family.
529 College Savings Plan
State-sponsored investment plans that generate tax-free income
Professional money managers oversee investments in 529 plans. The investment selection usually includes a choice tailored to the child's age. Withdrawals to pay tuition or other qualifying expenses at any college or university are free of federal income tax.* While some 529 plans also offer state tax breaks for residents, you can invest in any state's plan. An excellent way for grandparents to reduce their taxable estate.
Visit any Bank of North Georgia branch
for a referral to a Synovus Financial Management Services representative.
Discover how easily we can build a lasting relationship.
MORE POWER TO YOU
info@banknorthgeorgia.com
(770) 576-4471
*529 College Savings Plan investments are offered through Synovus Securities, Inc. Information, including fees, expenses and sales charges, on the particular plan you have selected is available in the offering circular or official statement provided by the plan sponsor. Please read the information carefully prior to investing. Non-qualified withdrawals are taxable as ordinary income to the extent of earnings and may also be subject to a 10% federal income tax penalty. Such withdrawals may have state income tax implications. State tax treatment of 529 Plans varies from state to state. Your state of residence, if different from the state offering the plan, may have additional features and/or tax benefits that are not available under the plan. Please consult your tax advisor prior to investing in your own or another state’s 529 Plan. State-based benefits should be one of many appropriately-weighed factors to be considered in making an investment decision. College Savings Plans have investment features similar to mutual funds or variable annuities. The value of your investment may fluctuate, and when redeemed, may be more or less than the original investment. Any dividend or interest is not guaranteed and may also fluctuate in value. Investors should consider personal investment objectives, risks, charges, and expenses as well as personal financial status, tax status and federal or state tax-related investment objectives carefully before investing.
