Dear Account Owners and their supporters,
Thanksgiving is upon us and we at IL ABLE want to say Thank You to all of the Account Owners (and their Authorized Individuals) who save and invest with IL ABLE Accounts.
As of this writing, IL ABLE Account Owners have an average of $8,700 in their IL ABLE Accounts, well above the SSI asset cap of $2,000, while protecting their benefits!
It’s nearly year end: Remember to open an Account to start protecting your federal benefits, or make a contribution to the IL ABLE Account of a loved one. IL ABLE Account contributions made by Illinois taxpayers before the end of the year may qualify for a tax deduction on your state income taxes for 2022: up to $10,000 if filing as an individual, or up to $20,000 if filing jointly.
You can make contributions to a loved one’s IL ABLE Account using UGift, or by completing and submitting an Additional Contribution Form. For Account Owners and Authorized Individuals with online Account access, you can log into your Account to make a contribution.
Thank you for saving with an IL ABLE Account and Happy Thanksgiving!
Ready to open an IL ABLE Account? Enroll