Opening an 蜜桃影像 529 account for loved one

Do you have a loved one you want to help with their future? Below are some tips on how to help:

Contributions to an 蜜桃影像 529 are removed from your taxable estate and considered a gift to the beneficiary. However, you retain control of the assets.
You can select investment options best suited for helping your loved one achieve their education goals.
You can adjust your contributions as needed.
You control when distributions are taken.
You determine if and when the beneficiary is ready to manage his or her account.
For 2023, the maximum annual gift amount is $17,000 per individual per year without paying gift taxes. With a 529, you can contribute up to $85,000 (or $170,000 for a married couple) to a beneficiary in one year and average the gift over five years without paying gift taxes, as long as no other gifts are made to the beneficiary during the five-year period. Consult a tax professional for details, as gift and estate taxes can be complex.

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