State Treasurer Mike Fitzgerald says there are a few more days left for you to get the full benefits this year from the College Savings Iowa program. Fitzgerald says you can put 25-hundred dollars in for each child this year and get a deduction for that amount from your state taxes.
But, Fitzgerald says you must have the contribution for this year in by December 31st. Fitzgerald says you can get the full tax benefit, even if you’ve only had the account open for a few days. Fitzgerald says you can start an account right up to midnight on December 31st and still get the tax benefit. Fitzgerald says it’s easy to start the account. He says it takes you about two minutes to start the account, and all you need are the name, address and social security number of you and the person you’re saving for.
Fitzgerald says the C-S-I program has been operating for eight years and there’s one-point-three-billion dollars in the program with 130-thousand accounts. Fitzgerald says there are accounts from just about every state, but he wants to let all Iowans know about the program. For more information on College Savings Iowa, call 1-888-672-9116 or visit: www.collegesavingsiowa.com.
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College Savings Iowa