AZ529 Education Savings Plan is a paid advertiser of Sonoran Living
Give the Gift of College and Careers to Grandchildren this Holiday Season
By Honorable Kimberly Yee, Arizona State Treasurer
https://az529.gov/
The AZ529, Arizona's Education Savings Plan, is a state-sponsored education savings plan where earnings grow tax-free.
As thoughts turn to finding the perfect gift this holiday season, what if there was an easy way for family members to give thoughtful presents that would be cherished for years? As administrator for Arizona’s Education Savings Program (https://az529.gov/ I invite parents, grandparents, and aunts/uncles to consider giving the gift of education to loved ones this December – instead of a traditional gift.
The first step is to make a tax-deductible contribution to an AZ529 account, (https://az529.gov/) Arizona’s Education Savings Plan or other 529 savings account. Contributions from parents, relatives and family friends provide gifts with long-term meaning for their littlest loved ones that can utilize them for fulfilling future education pathways.
However, if giving children a card that says, “I helped you save for college,” seems less than magical, here are a few suggestions that will both delight youngsters, AND strengthen their futures.
1. Career Costumes: Give a chef’s hat, astronaut costume, or other career dress-up option with a note saying you believe they can be whatever they wish, and you’ve given $10 to their AZ529 plan to help them achieve their dreams.
2. Career Exploration: Give an interesting book about a future job with a bookmark note sharing your AZ529 contribution.
3. Split it 50/50: Instead of buying a large gift, take half the funds and contribute to their 529, while using the other half to buy a less expensive gift.
4. Experience The Future: Take children to a museum or activity that helps them better understand a future career, or purchase a season pass to the Science Center, Natural History Museum, Musical Instrument Museum, Phoenix Zoo, or other destination, then login online together to see the funds deposited into their AZ529 account.
We even offer free downloadable holiday cards on our website to make it simple to share your donation and support. As family members choose to contribute to a child’s AZ529 savings plan this holiday, they are doing more than giving a gift, they are opening doors for a child’s future dream career.
Visit https://az529.gov/ for more tips to save and help children realize their career and college dreams this holiday season. Remember it is never too early and certainly never too late to begin saving.
About AZ529
The AZ529, Arizona's Education Savings Plan, is a state-sponsored education savings plan where earnings grow tax-free. For those who invest in an AZ529 Plan, the State of Arizona offers a state tax deduction up to $2,000 per beneficiary for individual tax filers and up to $4,000 per beneficiary for married tax filers who file a joint return. Qualified educational expenses include tuition and fees, books, computers and room and board. Additionally, friends and family members may add to a child’s AZ529 account at any time through gifting and earn the same tax benefits for themselves. Starting January 1, 2024, any remaining AZ529 funds can be transferred into an individual IRA account for retirement savings for the same beneficiary. For more information about AZ529, visit www.az529.gov.
About Treasurer Kimberly Yee
Treasurer Kimberly Yee is the first Asian American elected to a statewide office in Arizona’s history. She is also the first Chinese American Republican woman to win a major statewide office in the history of the United States. In 2010, she became the first Asian American woman elected to the Arizona Legislature and served for eight years. She is the Administrator of the AZ529 Education Savings Plan, comes from a family line of small business owners and prior to elected office, served in the administrations of a former state treasurer and two past governors. Full bio here: https://www.aztreasury.gov/treasurer-kimberly-yee
If you would like to learn more information about the AZ529 Education Savings Plan just go to az529.gov
