Able Account Tax Deductible
One of the newer state tax credits allows people to take a deduction if they set aside money to take care of someone with disabilities. State Department of Revenue Secretary Rick Chandler says it is called the Able Account. He says it is a way to save money for their future needs. He says for instance maybe you have a child with disabilities and want to set aside money for their future expenses. He says it is similar to the college savings program called Edvest.