Sign Up For CHET’s Tax-deferred Earnings
Nearly every state offers section 529 plans for families who wish to save money for their children's college expenses. The quality of each plan, in terms of the possible fees, rules and regulations will vary. Some plans allow the account owner to change beneficiaries, while others do not. The Connecticut Higher Education Trust, also know as CHET, is available to Connecticut residents to invest in their child's future. This 529 plan offers tax-deferred earnings. Residents may also take advantage of a tax deduction on state taxes. The amounts are $5,000 for single filers and $10,000 for joint returns for each tax year contributions are made.
