|Olson Reminds Iowans of College Savings Iowa Incentives (January 19, 2010)|
Tuesday, January 19, 2010
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Rep. Tyler Olson: (515) 281-3221
OLSON REMINDS IOWANS OF COLLEGE SAVINGS IOWA INCENTIVES
DES MOINES- State Representative Tyler Olson of Cedar Rapids today reminded Iowa taxpayers participating in College Savings Iowa that they can deduct up to $2,800 in contributions per beneficiary account from their adjusted gross income.
"College Savings Iowa helps families save for their children’s education and prepares our kids to land a job in today’s global economy," Olson said.
The program allows a married couple with two children will be able to deduct up to $11,244 from their adjusted gross income in 2010. Families who are already participating may need to adjust the amount they are contributing in order to maximize the new in-state tax deduction.
For those families who aren’t already saving through College Savings Iowa, there is still time to enroll. Enrollment is free, and it only takes $25 to open an account with subsequent contributions as low as $25. The combination of quality investments, convenient services, low costs and multiple tax benefits, makes College Savings Iowa an effective tool for those who are preparing for their children’s college careers.
For more information, visit www.collegesavingsiowa.com.
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