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Treasurer McCord’s 2013 Year-end Tax Planning Tip: Save on Taxes by Saving for College

Contribute before December 31 to maximize 2013 state tax deductions; New accounts open for freeHarrisburg – With only weeks remaining in 2013, State Treasurer Rob McCord today reminded Pennsylvanians that there is still time to reduce 2013 state taxes by saving for college with the Pennsylvania 529 College Savings Program. Pennsylvanians who open or contribute to a PA 529 account by December 31 can take advantage of a state income tax deduction and gift tax exclusion, he said. “Last year, Pennsylvanians saved nearly $19 million on their state income taxes as a result of investing in a

Holiday Shopping Alert: Turn Holiday Spending into College Savings with the Pennsylvania 529 College Savings Program

Helping a loved one make college more affordable is a gift they will never outgrowHarrisburg – State Treasurer Rob McCord today encouraged Pennsylvanians to give the gift of education by opening or contributing to a Pennsylvania 529 College Savings Program account.   According to Treasurer McCord, family members and friends may contribute to a child’s PA 529 account and also receive a Pennsylvania income tax deduction. The state income tax deduction for 529 college savings plan contributions was increased to $14,000 per taxpayer, per beneficiary, in 2013.  “Today’s shoppers work hard

Savings Alert! Save for College with the PA 529 Guaranteed Savings Plan before Higher Tuition Rates Take Effect September 1

Treasury offering free enrollment in the PA 529 GSP, chance to win $529 scholarshipHarrisburg – Pennsylvania Treasurer Rob McCord today announced there are a few days left for families to contribute to a Pennsylvania 529 Guaranteed Savings Plan (GSP) account by August 31, 2013, to receive the 2012-2013 academic year’s lower rates. After that date, credit prices will rise due to increases in tuition rates. “With parents and children rushing to get ready for the new school year, I hope they will add ‘college savings’ to their back-to-school tasks,” Treasurer McCord said. “Now is a great

Treasurer McCord Lowers Fees Nearly 30% for PA 529 Guaranteed Savings Program

Encourages families to save before higher tuition rates take effect September 1Harrisburg – State Treasurer Rob McCord announced good news today for families saving for higher education with the Pennsylvania 529 Guaranteed Saving Plan (GSP). Due to the greatly improved financial status of the GSP Fund, which is now actuarially fully funded, fees and premiums are being reduced. “Since taking office, I have worked hard to ensure that the PA 529 College Savings Program would be one of the top programs in the nation. The Pennsylvania 529 Guaranteed Savings Plan, in particular, continued its

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