Federal tax reform update

 

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Save for college — and more

Your NY 529 account can pay for more than tuition. Think room/board, books, computers — even internet service.

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*Up to $10,000 is deductible annually from New York State taxable income for married couples filing jointly; single taxpayers can deduct up to $5,000 annually. State tax benefits for non-resident New York taxpayers may vary. State tax deductions may be subject to recapture in certain circumstances such as rollovers to another state's 529 plan or nonqualified withdrawals. Please consult your tax advisor.