tag:blogger.com,1999:blog-32639162.post977153526059296590..comments2023-12-07T01:00:56.264-05:00Comments on My Wealth Builder: Options For Our Tax Rebate - Reduce Debt Or SaveSuper Saverhttp://www.blogger.com/profile/11172939501208456194noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-32639162.post-66949943641476601562008-01-31T07:31:00.000-05:002008-01-31T07:31:00.000-05:00@ Frugal Dad,Thanks for sharing your plans for the...@ Frugal Dad,<BR/><BR/>Thanks for sharing your plans for the rebate. Hopefully, the bill will pass quickly and the rebate will happen by May.<BR/><BR/>@ Triplemom,<BR/><BR/>Thanks for the complement.<BR/><BR/>Our plan is to contribute the maximum amount that can be deducted on our state tax return each year. (For reference, a number of states allow deductions for 529 contributions to their own state plans.) Contributing more is allowed, but we would need to wait for future tax years to take the deduction.<BR/><BR/>Our contributions are theoretically limited by the total 529 account value limit. Once an account reaches the maximum allowed (currently over $200,000 for us), no further contributions can be made. We won't have to worry about this limit for many years:-)Super Saverhttps://www.blogger.com/profile/11172939501208456194noreply@blogger.comtag:blogger.com,1999:blog-32639162.post-54505930119601243912008-01-30T11:37:00.000-05:002008-01-30T11:37:00.000-05:00Love your blog! I am so happy to see some people ...Love your blog! I am so happy to see some people living the "early retirement dream". <BR/><BR/>You say you have already put in your 2008 contribution in the 529 plan. Is there a limit?? Or is it just that you have put in the amount that you PLANNED to contribute? We are currently saving for our three young children.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32639162.post-84539606072822315852008-01-30T06:42:00.000-05:002008-01-30T06:42:00.000-05:00We plan to pay down debts and set a little aside t...We plan to pay down debts and set a little aside to beef up our emergency fund, probably a 70/30 split.Anonymousnoreply@blogger.com