Pennsylvania Treasury Announces Better Income Tax Benefits for PA 529, PA ABLE Savings Programs

The Pennsylvania Treasury Jan. 10 announced personal income tax deductions and benefits for contributing to PA 529 and PA ABLE accounts. The announcement includes: 1) the PA 529 College and Career Savings Program is designed to help families steadily and strategically save for future educational expenses; 2) the PA ABLE program is a savings program that allows Pennsylvanians with disabilities and their families to save money without impacting eligibility for federal and state means-tested benefits; 3) the annual deduction limit for PA 529 account owners has increased to $17,000 from $16,000 of contributions to their accounts; 4) the PA 529 ...