December 04, 2019
Posted By: Jessica Geary-Cecotti
December. The Christmas carols say it’s the most wonderful time of the year. The calendar says it’s the last 31 days of the year. The IRS says it’s the end of the tax year. As a parent, you probably say it’s the busiest time of the year – filled with parties, school programs, shopping, baking, and more. There’s nothing we can do to help with all that holiday baking, but Achieve Montana can help with your taxes and gift giving. That sounds like a win-win to us.
As the official 529 plan for Montana, Achieve Montana strives to make saving for a higher education simple. Parents, grandparents, aunts, uncles, and others can use an Achieve Montana account as an affordable and effective way to save for the future education of their children, grandchildren, nieces, and nephews. Accounts can be opened with as little as $25 ($15 with payroll direct deposit, where available). Since there is no single strategy that meets everyone’s needs, Achieve Montana accounts have generous contribution limits and a range of attractive investment options. Investments have immediate tax benefits you can take advantage of on your 2019 taxes. Learn all about them here. https://achievemontana.com/home/planbenefits/plan_montana.html
While no one is going to turn down a tax benefit, Achieve Montana can also help with holiday gift giving. The Ugift® program is an easy, free-to-use service that lets family and friends give financial gifts toward your child’s future education. Gift contributions can be made online or by check, and gift-givers don’t have to join, register, or pay a service fee. What a simple way to give a meaningful gift, something that will be remembered long after the toys and trinkets are forgotten.
So, why not let Achieve Montana make not one but two things a little simpler for you this December? Visit AchieveMontana.com to sign up or call 1-877-486-9271 for more information. It could be the most important thing you do this month.
Investing in Achieve Montana is an important decision for you and your family. Please carefully review and consider the Enrollment Kit available at AchieveMontana.com before making an investment decision. It includes a Program Description that discusses investment objectives, risks, charges, expenses and other information that are important for you to consider.
Achieve Montana account owners who are Montana residents are entitled up to a yearly $3,000 deduction to adjusted gross income per taxpayer, in computing their Montana State income tax, or $6,000 for those married, filing jointly, based on contributions to Achieve Montana. Contributions may be subject to recapture in certain circumstances, such as a non-qualified withdrawal, a withdrawal used to pay elementary or secondary school tuition expense, or a withdrawal or distribution from an account that was opened within three years prior to the date of the withdrawal or distribution. Tax and other benefits are contingent on meeting other requirements and certain withdrawals are subject to federal, state, and local taxes.
Achieve Montana is sponsored by the State of Montana and administered by the Montana Board of Regents of Higher Education, as sole trustee of the Montana Family Education Savings Trust (Trust). Ascensus College Savings Recordkeeping Services, LLC provides program management, recordkeeping and administrative support services for Achieve Montana. The Vanguard Group, Inc. and Dimensional Fund Advisors LP each serve as investment managers for the underlying mutual funds comprising Achieve Montana’s portfolios. New York Life Insurance Company serves as manager of Achieve Montana’s Capital Preservation Portfolio. Except to the extent of the New York Life Insurance Company guarantee that is available for the Capital Preservation Portfolio, investment returns are not guaranteed, and you could lose money by investing in Achieve Montana. Ugift® is a registered service mark of Ascensus Broker Dealer Services. LLC., an affiliate of Ascensus College Savings Recordkeeping Services, LLC.