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“AT AVIDIAN, WE DO MORE THAN MANAGE YOUR MONEY, WE PROVIDE COMPREHENSIVE WEALTH PLANNING SOLUTIONS.”

  • 20years of success.
    Founded in 2003.
  • 66Financial
    Professionals
  • $3.8Billion Client Assets
    under management
1.

Tax breaks

Are 529 contributions tax deductible in Texas? Contributions to a 529 plan are not deductible on federal tax returns. However, most states do offer some variation of state tax deductions, whether they be full or partial. Texas does not have a state income tax and therefore does not offer tax deductions on contributions. But that doesn’t mean 529s aren’t worth investing in for Texas families, as there are beneficial tax breaks just for contributing to the account.

Contributions to a 529 College Savings Plan grow on a tax-deferred basis and appreciation can be withdrawn from the plan without federal income taxes as long as they are used for qualified education expenses.

2.

Flexible withdrawal options

529 College Savings Plans offer a variety of investment options, allowing you to select the investments that best suit your needs and financial goals. You can use the plan to save for any type of higher education, including undergraduate, graduate, and professional degrees. For affluent families looking to send their children to private school, new laws allow you to use 529 contributions to pay for K-12 tuition up to $10,000 per year.

Additionally, you have the flexibility to withdraw contributions or earnings from a 529 for qualified education expenses at any point in time. This means you can withdraw these funds as needed, making 529 College Savings Plans an ideal way to cover college costs as they come.

3.

College savings for future generations

529 plans can also be used as a powerful estate planning tool, allowing you to pass assets on to the next generation. The account owner has control over the 529 College Savings Plan and can choose who will receive the funds. You can name a beneficiary of the plan and make changes at any time, making it an ideal way to pass on your wealth and ensure the future financial well-being of your loved ones.

If you’re looking for a tax-efficient way to save on college for the next generation, a 529 college savings plan is a great option. To learn more about your state’s sponsored 529 plans and how they can benefit your financial planning in Houston, schedule a consultation with Avidian Wealth Solutions today.

Why partner with Avidian Wealth Solutions for your college funding strategies?

Access to a family office experience without the steep overhead

Avidian Wealth Solutions is structured in a way that provides a similar family office experience as that of a single-family office, but with a more cost-effective structure.

Our team of experienced professionals provides comprehensive wealth planning tailored to your individual needs with services such as estate planning, risk management strategizing, and retirement planning in Houston, TX, and beyond.

What does this mean for you? No college funding strategies will be recommended without taking into account any potential impacts on your overall financial plan. You’ll also gain access to the knowledge of a team of multi-disciplinary seasoned professionals, without the overhead costs typically associated with a family office.

Strategies made with consideration to your overall tax plan

At Avidian Wealth Solutions, we help wealthy families finance their children’s education in the most tax-efficient way possible, working to incorporate 529 plan tax benefits into their overall tax plan.

If you’re looking for tax planning in Houston, our team of financial advisors for high-net-worth individuals and families can work with you to set up a 529 college savings plan and beyond, to make sure that you’re taking advantage of every possible opportunity. We’ll provide you with the most effective strategies for using a 529 College Savings Plan to meet your college funding goals, as well as maximize the potential tax benefits.

Decisions are made in your best interest — always

When you work with Avidian Wealth Solutions for college funding strategies and tax planning in Houston, you can rest assured knowing that all decisions will be made with your financial future in mind.

As fiduciary financial advisors, we are committed to finding the best possible solution for each family we work with, providing personal service and guidance every step of the way. The fiduciary standard means that we are legally obligated to serve your best interest, always.

Luke Patterson
Luke Patterson CEO, CIO
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