ACHIEVING A BETTER LIFE EXPERIENCE OR ABLE ACCOUNTS
HI¡ I'M RISA¡ AND I WORK FOR THE INTERNAL REVENUE SERVICE.
WERE YOU BORN WITH A DISABILITY?
OR DID YOU BECOME DISABLED BEFORE YOU TURNED 26 YEARS OLD?
IF SO¡ YOU COULD BE ELIGIBLE FOR AN ABLE ACCOUNT.
AN ABLE ACCOUNT ALLOWS YOU¡ AS A DESIGNATED BENEFICIARY¡ TO SAVE MONEY AND GET TAX-FREE EARNINGS TO PAY FOR DISABILITY-RELATED EXPENSES¡ SUCH AS PERSONAL SUPPORT SERVICES¡ HOUSING¡ EDUCATION AND TRANSPORTATION.
YOU AND OTHERS CAN PUT UP TO 15-THOUSAND DOLLARS A YEAR INTO YOUR ABLE ACCOUNT.
THESE CONTRIBUTIONS CAN INCLUDE FUNDS ROLLED OVER FROM CERTAIN 529 PLANS.
ALSO¡ IF YOU HAVE A DISABILITY AND WORK¡ YOU MAY BE ELIGIBLE TO ADD EVEN MORE MONEY TO YOUR ACCOUNT ANNUALLY.
WHAT'S MORE¡ YOU CAN GET UP TO A TWO-THOUSAND DOLLAR TAX CREDIT FOR THE MONEY YOU PUT INTO YOUR ABLE ACCOUNT¡ WHICH COULD REDUCE YOUR TAX BILL.
FOR MORE DETAILS¡ GO TO I-R-S-DOT-GOV-SLASH-TAX-REFORM.
THEN CLICK "INDIVIDUALS."
SCROLL DOWN TO "SAVINGS PLANS."
THEN CLICK "ABLE SAVINGS ACCOUNTS."
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THANK YOU.