Saving Taxes
- Introduction
- The Coverdell Education Savings Account and Additional Federal Tax Credit Programs
- Qualified Tuition Programs (QTPs) / 529 Plans
- Series EE and Series I Savings Bonds
- Who Should Own the Investments?
Introduction
Most people make investments with an eye toward saving on taxes, and college investments are no exception. A Coverdell Education Savings Account is one vehicle in which earnings grow tax-deferred, and are never taxed if they are used for the beneficiary's qualified education expenses.
Qualified tuition programs are generally tax-favored, and make it possible for you to make contributions now toward education expenses in the future. Interest in Series EE and Series I Savings Bonds grows tax-deferred, and may never be taxed if the bonds are redeemed in a year when you pay your child's college tuition.
You also need to determine who should own the investments that are going towards your child's education. That decision will be made, in part, based on your tax bracket, whether or not you qualify for financial aid and your net worth.Share Article:
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Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.
- ARE NOT A DEPOSIT
- ARE NOT FDIC-INSURED
- ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- ARE NOT GUARANTEED BY THE BANK
- MAY GO DOWN IN VALUE
Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.