Accounting Solutions

Need a last minute Christmas gift for a child AND a end of the year tax deduction? Make a contribution to their Alabama 529 account before year-end and get a deduction on your Alabama tax return for 2023!

Now up to $35,000 can be rolled over to a Roth IRA if the child decides not to go to college/doesn’t use the money.

Bonus - Rolled over contributions are deductible as well!

Deduction is limited to $5,000 per taxpayer ($10,000 MFJ).