Disadvantages of a 529 Plan

The reasons why you should use a 529 plan are many, but there is always a downside. In my previous video we talked about all the benefits to investing in these tax-advantaged accounts. Now, let me share some the disadvantages of a 529 plan to help you reach a final decision! 0:00 Introduction 1:17 Counts Against You When Doing FAFSA Application 1:45 10% Penalty and Income Tax on that 529 Plan 2:38 Not All 529 Plans are Good 3:09 Not All States Offer Tax Deductibility 3:36 Investment Options ACap Advisors & Accountants is a financial advisor and CPA firm located in Los Angeles, California. We are a full service wealth management and CPA firm. Subscribe to ACap Advisors & Accountants YouTube Channel:    / acapam  . Schedule a Consultation: https://www.acapam.com/contact/ 12031 Ventura Blvd., Suite 1 Studio City, California 91604 (818) 272-8511 [email protected] Connect with ACap on social media: Twitter:   / acapam   Facebook:   / acapadvisorsaccountants   LinkedIn:   / acapadvisorsaccountants   Instagram:   / acapadvisorsaccountants   Fiduciary Oath/Pledge https://www.acapam.com/financial-advi... Financial Advisor in Los Angeles, CA CPA in Los Angeles, CA #fiduciaryfinancialadvisor DISCLAIMER: THIS VIDEO IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS TAX, FINANCIAL, OR LEGAL ADVICE. EVERY PERSON’S SITUATION IS DIFFERENT AND YOU SHOULD CONSULT WITH YOUR OWN FINANCIAL AND TAX ADVISOR FOR ADVICE SPECIFIC TO YOUR SITUATION. COMMENTS ARE NOT REVIEWED