Daily Court Reporter - News Ohio’s 529 plan celebrates new milestone
Ohio’s 529 plan celebrates new milestone
Effective Jan. 1, 2018, the state income tax deduction for contributions made to Ohio’s 529 increased to $4,000 for Ohioans. Passed by the Ohio General Assembly, this expanded tax benefit further encourages current and future CollegeAdvantage 529 Plan account owners to save for their children’s future college costs. Other tax advantages for saving for college in Ohio’s 529 Plan include tax-free earnings, so every dollar is yours to use, and tax-free withdrawals when used for qualified higher education.
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Date Published: March 5, 2018