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."
AND… IF YOU FIND THIS VIDEO HELPFUL… PLEASE SHARE IT.
THANK YOU.