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Boscola calls PA 529 College Savings Plan a Good Holiday Gift Idea
On December 16, 2014 ·
Use Coupon Code ‘BOSCOLA’ to Waive Enrollment Fee
Bethlehem, Dec. 15, 2014 — Sen. Lisa Boscola today said local families can give the “gift of education” to a child on their holiday shopping list by opening or contributing to a Pennsylvania 529 College Savings Plan.
“Investing in a child’s education is investing in their future,” Boscola said. “I urge families to look into this beneficial school savings plan.”
Boscola said contributions made by Dec. 31 can be used to help reduce 2014 Pennsylvania state taxable income — one of the many tax benefits that are available to those who are saving for college through this program.
She said taxpayers can deduct up to $14,000 per beneficiary in PA 529 contributions from Pennsylvania taxable income on their state tax returns for 2014. Married couples filing jointly can deduct up to $28,000 per beneficiary if each spouse has taxable income of at least the amount deducted.
Boscola noted that the PA 529 College Savings Program is offering free enrollment — a $50 savings — for all new PA 529 Guaranteed Savings Plan (GSP) accounts opened by Dec. 31 at www.PA529.com. Use enrollment code BOSCOLA when prompted.
# # #
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