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The Michigan Education Savings Program (MESP) is a 529 savings plan that is administered by the Michigan Department of Treasury. Michigan residents who contribute to this plan can deduct up to $5,000 (up to $10,000 for joint filers) from their state income tax each year. MI State Matching Grants based on MESP contributions are not currently ...
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
After years of investing in your children’s college education, you’re ready to reach into your 529 college savings plan and send your kid off to the best years of his or her life. But while ...
A 529 college savings plan, also known as a qualified tuition plan (QTP), is one of the best choices for meeting student educational expenses. Two of the 529 plan’s best features are tax ...
529 college savings plans offer several tax benefits and the potential to build your child’s college fund over time. Unlike with several investment accounts, the federal government allows your ...
A 529 saving plan is well-known for its ability to help parents and students deal with the cost of education. While it was originally set up as a way to pay for the spiraling costs of college, the ...
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