![]() Participation in MAP does not guarantee that the account's assets will be adequate to cover future tuition or other higher education expenses, or that your beneficiary will be admitted to or permitted to continue to attend an institution of higher education. Also, consider whether your or your beneficiary’s home state offers any state tax or other benefits, such as financial aid, scholarship funds and protection from creditors, that are only available for investments in that state’s qualified tuition program. For this and other information that should be read carefully, please read the MAP Plan Description. (TFI) is the Program Manager and Nuveen Securities, LLC, member FINRA and SIPC, is the Distributor.īefore investing, carefully consider investment objectives, risks, charges, expenses, and other important information. ![]() The MI 529 Advisor Plan (MAP) is offered by the State of Michigan. TIAA-CREF Tuition Financing, Inc., the States and their agencies are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by this tool and are not responsible for any human or mechanical errors or omissions. Account value will fluctuate based upon a number of factors, including general financial market conditions. Investments in a 529 Plan are neither insured nor guaranteed and there is the risk of investment loss. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. Taxpayers should seek advice based on their own particular circumstances from an independent tax professional. In some states with income taxes, the 529 tax savings may differ from the state income tax rate. The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. For example, if you select NJ as both the state sponsor and residency, it will assume you qualify for a tax deduction regardless of your inputted state tax rate. In addition, the calculator does not take into consideration income exceptions from getting a state tax deduction. Unless manually edited, the calculator assumes the highest state tax rate based on the state residence accepted. If these fees had been reflected, any growth of the total contribution during the same investment period would have been lower. The calculations do not reflect management, administrative and other fees associated with 529 plans. You may want to consult with a qualified advisor before making an investment. As your financial situation changes, you should review your investment goals, time period for college investing, and personal financial situation and reassess whether you are investing enough to meet your college savings goals. These calculations do not constitute investment advice. There may be limitations or restrictions on eligibility for tax benefits depending on the tax code in your state of residency. Investments which seek to achieve higher rates of return are more volatile and involve a higher degree of risk.The calculator takes into account tax variables based upon what you select. Any hypothetical rate of return used does not reflect actual performance or predict future results of the program. ![]() The results presented are hypothetical illustrations and may not reflect the actual growth, if any, of your investment in a particular 529 plan. Important Information About Your Calculations
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |