What skills do you need to be an artist?
Although the definition of art can change from person to person, many artists share the same set of skills.
- Creativity!
- An eye for beauty and composition
- Confidence to try new ideas
- Technical skills: drawing, painting, sculpting
Not all artists get their work hung in museums. In fact, some find day jobs in other industries and practice art in their free time. Here are some career options for artists:
- Art director for advertising
- Cartoonist
- Illustrator for textbooks
- Graphic designer
What is the definition of an interested party in a 529 fund?
The Interested Party is someone other than the account owner that has
the ability to call in and ask specific questions about the account.
The interested party also gets duplicate quarterly statements.
On a related issue, the Successor Account Owner is the person who will own the account if th eaower dies. If both the owner and successor died at the same time the account would then go the executor of the owner's estate.
All of the following should be considered before enrolling in a 529 plan except which?
there is a limit on how many colleges you can apply to.
The amount of money from a 529 college savings plan investment is dependent upon?
the performance of the market in which its invested
Elementary and secondary schools
The amount of money from a 529 college savings plan investment is dependent upon what?
the performance of the market in which its invested
Who should your family talk about enrolling in a 529 plan or a Cover-dell education savings account?
a financial advisor
You should certainly save up money in advance so that you will have enough to pay for college. Do not assume that you can make enough by working part time to pay off all of your debt. You should use a plan like the Il 529 plan to save your money so that you are better equipped to deal with the rising costs of tuition, books, supplies, and room and board when you are in college.
What is the benefit of a 529 savings plan?
The 529 plan has two types of plans, either the savings plan or the prepaid plan. The 529 plan lets you save for your child's education a lot easier. The 529 plan let's you save for many different colleges.
Where can I go to get some information on my 529 plan?
If you need information on a 529 plan you already have then you need to contact the bank that you have the account with. If you need info on 529 plans, then you can talk to a financial planner and your bank or an accountant. You can also check out www.savingforcollege.com/
Financing availability and is it tax deductible?
The 529 college savings plan does not offer a tax deductible on federal income tax returns, however the contributions are considered gifts and come out tax free.
How much should I aim to save with a section 529 plan?
A section 529 plan is a great way to save for your child's future. Since tuition increases each year, it is hard to estimate how much an education will cost in 18 years. It is recommend by this website that you try to put in as much as you can into the plan. www.kidsvt.com/education/penny-wise-saving-higher-education/.
Where can I find information about college savings plans?
The CSPN or College Savings Plans network is a great online resource for college savings plans. The site gives you resources to help you get started and has information for every state. The site is: http://www.collegesavings.org/index.aspx
Could you explain how a 529 savings plan works?
A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs.
What information can you give me on a 529 savings plan?
529 Savings plans are designed to help someone save for college. Most 529 plans are state sponsored.
Can a 529 Plan be transfered to the Coverdell Education Saving account?
If you move money from a 529 account into a Coverdell Education Savings Account, you pay taxes and a penalty. It is only tax free if you move money FROM a Coverdell ESA to a 529 plan.
What Funds that are left over in a 529 account after college expenses go back to whom?
Funds left over in a 529 account after college expenses can be withdrawn by the account owner, typically the account holder, without penalty. However, if the funds are not used for qualified education expenses, the earnings portion of the withdrawal will be subject to income tax and a 10% penalty. Alternatively, the remaining funds can be rolled over to another qualified family member's 529 account.
Is a contribution to a qualified tuition plan considered as a gift of present interest?
No, a contribution to a qualified tuition plan is not considered a gift of present interest. It is typically treated as a completed gift for gift tax purposes because the donor has made a transfer of ownership to the beneficiary.