Thank you for your interest in CollegeCounts, Alabama’s 529 fund!

Your children will thank you years from now as well!

We know that saving for college can feel like a challenge. But we like to make it easy for you.

It takes just minutes to set up an account. Once you’re ready to go, start saving today, even if you have to start small. As little as $25 per paycheck can help your student pay for future college expenses after they graduate high school.

The state of Alabama offers a generous state income tax deduction for contributions made to a CollegeCounts account. Contributors can deduct up to $5,000 each year for contributions made to an account ($10,000 if married filing jointly where both spouses contribute)1. The deadline to establish and contribute to an account to take advantage of the 2018 Alabama state income tax deduction is December 31st. Act now so you don’t miss out!

Learn more about the tax advantages and other benefits that come with a CollegeCounts 529 account, then start building toward a better future for your children.

1Individuals who file an Alabama state income tax return are eligible to deduct for Alabama state income tax purposes up to $5,000 per tax year ($10,000 for married taxpayers filing jointly if both actually contribute) for total combined contributions to the Plan and other State of Alabama 529 programs. The contributions made to such qualifying plans are deductible on the tax return of the contributing taxpayer for the tax year in which the contributions are made. In the event of a Nonqualified Withdrawal from the Plan, for Alabama state income tax purposes, an amount must be added back to the income of the contributing taxpayer in an amount of the Nonqualified Withdrawal plus ten (10%) percent of such amount withdrawn. Such amount will be added back to the income of the contributing taxpayer in the tax year that the Nonqualified Withdrawal was distributed. Please consult with your tax professional.