Here Are the 529 Plan Contribution Limits by State

529 college savings plans are excellent ways to save for the educational expenses of loved ones (or even yourself) in a tax-advantaged way. Although 529 savings plan contributions aren't deductible on your federal income tax return, they can be deducted on state income tax returns in many cases. Plus, 529 savings plan contributions can be invested, similar to the structure of a 401(k), and any investment profits used to pay for qualified education expenses are 100% tax-free.You can't contribute an unlimited amount of money to a 529 savings plan, but these accounts have some of the highest contribution limits of any tax-advantaged investment account type.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool