The happenings "inside" the Wisconsin State Treasury and across the street at the State Capitol

FAQ: What are the benefits of EdVest?


English: Great Seal of the state of Wisconsin

Image via Wikipedia

These are some of the numerous tax benefits you can take advantage of through EdVest 

– Earnings on an EdVest account mature federal and sometimes state tax-free

– Qualified withdrawls from a 529 plan are federal and sometimes state tax-free

– Wisconsin residents DO NOT have to pay state income tax on qualified withdrawls

– Individuals can deduct contributions of up to $3,000 per beneficiary from Wisconsin taxable income each year if   the beneficiary is your child, grandchild, great-grandchild, niece, nephew, or yourself.

– After a 5 year period contributions up to $65,000 may be excluded from federal gift tax pro rata

– For tax purposes completed gifts are considered removed from your estate.

Get more information on Wisconsin’s College Savings Plan by visiting www.edvest.com

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17 responses

  1. Pingback: FAQ: What are the WI State benefits with EdVest? « wistatetreasury

  2. Pingback: FAQ: How can money from an EdVest account be used? « wistatetreasury

  3. Pingback: FAQ: Who can open an EdVest account? « wistatetreasury

  4. Pingback: FAQ: Does EdVest have a flexible contribution option? « wistatetreasury

  5. Pingback: FAQ: Can I transfer assets from another account into EdVest? « wistatetreasury

  6. Pingback: FAQ: How can I stay up to date on my EdVest account? « wistatetreasury

  7. Pingback: Researching College Savings Plans? Look to EdVest! « wistatetreasury

  8. Pingback: FAQ: Where can I find proof of former residence? « wistatetreasury

  9. Pingback: FAQ: What happens if the beneficiary does not use the EdVest account? « Wisconsin State Treasury

  10. Pingback: FAQ: Does EdVest offer different investment options? « Wisconsin State Treasury

  11. Pingback: FAQ: What about Transferring EdVest Contributions? « Wisconsin State Treasury

  12. Pingback: FAQ: Are their limitations on EdVest account money? « Wisconsin State Treasury

  13. Pingback: FAQ: Are there limitations on EdVest account money? « Wisconsin State Treasury

  14. Pingback: FAQ: How can I get an EdVest distribution sent to me? « Wisconsin State Treasury

  15. Pingback: FAQ: What happens to my EdVest account if I move out of state? « Wisconsin State Treasury

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    April 16, 2013 at 11:32 AM

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