Make the Most of Your Tax Return in 2010
A contribution to a College Savings Bank account can see rewards for years to come.
It’s that time of year again! Everyone you know is scrambling to meet the April tax deadline, in hopes of receiving a nice lump sum of money from the government. And although this may feel like a gift, we should remember it is essentially part of our paycheck being reimbursed to us. With global markets still unsettling for many investors, this may be the best time to use a tax return to contribute or open an FDIC insured account at College Savings Bank. There are many options for how to use your tax return, but an account from College Savings Bank allows you to be one step closer to a secure future, for you or your children. There has never been a better opportunity to use money wisely.
College Savings Bank has been helping families save for higher education for over 23 years and has the expertise necessary to manage your state-sponsored 529 account, an IRA account, an ESA account or even a traditional Fixed Rate CD account for general savings. College Savings Bank can be a one-stop-shop for savings needs and can guarantee principal protection and FDIC insurance on every deposit made.
“Using your return check to invest in the future of your child or a loved one is a great way to invest your money wisely,” said College Savings Bank Assistant Vice President, Linda Green. “By opening a 529 college savings plan or depositing your return check into an existing account, you are helping to cover your child’s future college costs and putting them another step closer to the higher education that is so demanded in the U.S. today.”
College Savings Bank offers three FDIC-insured product options that can suit investors of all types. Each product College Savings Bank offers includes FDIC insurance up to $250,000 per depositor through December 31, 2013 and has zero enrollment fees.
The CollegeSure® CD is a 3- to 22-year, variable rate CD indexed to a measure of college inflation. The InvestorSure® CD is a 5-year, variable rate CD indexed to the average increase in the S&P 500® that does not risk principal. The Bank also offers Fixed Rates CDs featuring 1- and 3-year maturities and competitive rates. All of our products are available within tax-advantaged accounts, including a state-sponsored 529 plan account, and ESA account or an IRA account, both Traditional and Roth.
A great benefit for college savers—many contributions made to state-sponsored 529 plans receive state tax advantages, meaning you could have a better opportunity for a greater tax return. Any U.S. taxpayer, regardless of income, may establish an account for anyone to help pay for qualified higher education expenses.
At College Savings Bank, we strive to provide the most convenient and secure savings products available. Market conditions cannot affect the pledge we make to our customers. Remember when you receive your tax return check, invest it wisely and allow your child to be one step closer to a brighter future.
To find out more about the products available from College Savings Bank, please call a College Savings Bank Adviser any Monday through Friday from 9 a.m. to 6 p.m. EST at 1-800-888-2723 or visit our web site, http://www.collegesavings.com.
Deposits with College Savings Bank are insured by the Federal Deposit Insurance Corporation (FDIC), currently up to $250,000 per depositor. The $250,000 limit is permanent for certain retirement accounts (includes IRAs) and is temporary for all other deposit accounts through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all deposit accounts except certain retirement accounts, which will remain at $250,000 per depositor.
Member FDIC. Before investing in any 529 plan, you should consider the benefits of your home state’s 529 plan. It may provide taxpayers with state tax and other benefits that are only available through your home state’s 529 plan. You should also consult your financial, tax, or other advisor to learn how state-based benefits (or limitations) would apply to your specific circumstances. Early withdrawal tax penalties apply and non-qualified withdrawals are taxable. The College Savings Bank 529 Plan is not insured by the State of Montana or the State of Arizona. Neither the principal invested nor the investment return is guaranteed by the State of Montana or the State of Arizona. © 2009 College Savings Bank. All rights reserved. CollegeSure and InvestorSure are registered service marks of College Savings Bank. S&P 500 is a registered trademark, used with permission, of The McGraw-Hill Companies, Inc. Read the InvestorSure 529 Plan Disclosure Statement carefully before you invest or send any money. This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state, or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. College Savings Bank and its affiliates and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.
IRS Circular 230 Disclosure: Pursuant to requirements to practice before the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing or recommending to another person any transaction tax-related matter addressed herein.
This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state, or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. College Savings Bank and its representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.