Re: 529 financial plans

[Robert <http://dummy.us.eu.org/robert>]

 > From: Flora  <http://www.gmail.com/~flora>
 > Date: Mon, 7 Sep 2015 20:57:35 -0400
 >
 > Yes, a 529 is probably a good idea for Holly.  I'll look into opening one for 
 > her. I know that you don't have to open one in the state that you live in. It 
 > may be more advantageous to open one in another state. 

Indeed.  The advantage of the VT plan, however, is that you (as VT
resident) get a small deduction off your state income tax.  May not be a
big deal, 'tho.

 > On Sep 5, 2015, at 7:21 PM, "Robert" <http://dummy.us.eu.org/robert> wrote:
 > > There doesn't seem to be a particular advantage to us opening a
 > > Ca-specific 529 *unless* we were to open one for Holly which would
 > > accrue over many years.  In that case, we could reap tax deductions for
 > > any earnings from the investments (not the contributions, unfortunately).
 > > 
 > > If you open a 529 account, we (or the grandparents) could contribute to
 > > that 529.  It looks like you could get a small tax advantage (see
 > > https://vheip.org/faq/index.shtml ).  If you were to open one for Holly,
 > > the tax advantages could be worthwhile over the many years.