1. State Income Tax Deduction

    Wisconsin taxpayers can qualify for a 2022 state tax deduction up to $3,560 annually per beneficiary from contributions made into an Edvest 529 College Savings Plan (married couples filing separately and divorced parents may claim a maximum of $1,780). Parents, grandparents, other family members and even friends have until Tuesday, April 18, 2023, to contribute to an existing Edvest 529 account or open a new account to be eligible for the 2022 state income tax deduction.

    Edvest 529 is also happy to announce that the state income tax deduction for 2023 has been raised to $3,860 annually per beneficiary for single filers and married individuals filing jointly and to $1,930 for married couples filing separately and divorced parents.

  2. 100% Tax-Deferred Growth

    In addition to a state income tax deduction, any account earnings grow 100 percent tax-deferred at both the state and federal levels. This means that instead of paying taxes annually on any earnings, an account owner can potentially grow their account faster.

  3. Tax-Free Withdrawals

    Account owners can withdraw funds tax free when paying for qualified education expenses at any accredited college, university or technical schools across the U.S. and many schools abroad. Qualified higher education expenses include tuition, fees, room and board, books, computers, related technology and more.2