What is a Fidelity Advisor 529 plan?
Our 529 plan offers potential tax advantages, a broad range of investment options, and high contribution limits to help students save for higher education expenses. Assets in the plan can be used for tuition, books, and other education-related expenses at most accredited colleges and universities.
What state is Fidelity Advisor 529 plan?
state of New Hampshire
The Fidelity Advisor 529 Plan is sponsored by the state of New Hampshire and offers tax-advantaged savings that could help families save for higher education.
Does Fidelity charge fees for 529 plans?
What are the fees and expenses? There is no annual account fee or minimum required to open any of the Fidelity-managed 529 plan accounts. The fees charged are incorporated into the total expense ratio.
Are contributions to a 529 tax deductible?
Earnings from 529 plans are not subject to federal tax and generally not subject to state tax when used for qualified education expenses such as tuition, fees, books, as well as room and board. The contributions made to the 529 plan, however, are not deductible.
What is the difference between 529 A and 529 C?
Investors who purchase Class A shares typically pay an upfront sales charge and lower annual fees compared to other 529 plan share classes. Class C shares do not have a front-end sales charge, but come with higher annual fees, often making them a better choice for investors with a shorter time horizon.
Do you know what a 529 plan is?
Key Takeaways 529 plans are tax-advantaged accounts that can be used to cover educational expenses from kindergarten through graduate school. There are two basic types of 529 plans: savings plans and prepaid tuition plans. 529 plans are run by the states, and their rules differ.
What expenses can be paid with 529 funds?
The money in a 529 account can be used for any approved educational expenses. These include tuition and fees, room and board for students enrolled half time or more, books, necessary calculators and software, and services for special-needs students.
What is 529 and the tax benefits of opening one?
In addition to providing educational funding for its beneficiary, a 529 has several tax benefits for the person or people who set it up. The main benefit is that the earnings of a 529 are tax-free at the federal level as long as they are used for educational purposes.
What to do with remaining 529 funds?
You have several options for leftover 529 assets: Transfer the funds to another beneficiary. Save the funds for your future education (you never know what the future holds). Hold onto the assets for future generations and change the beneficiary down the line (your child, a nice, a nephew, etc.).