Almost a third of contributions to 529 college savings plans are made in the fourth quarter, but there are good reasons to contribute in the beginning of the New Year. The earlier you get the money in, the longer it has to grow tax-free. Also, some states will let you take a 2013 state tax deduction for contributions made up until April 15, 2014. And tax season—when you’re preparing your taxes–is a good time to look at how 529 plans fit into your overall tax planning strategy.
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