ABLE Account Information

The Tax Cuts and Jobs Act (TCJA) of 2017 made significant changes to the U.S. tax code. Many of its provisions are set to expire, or "sunset," at the end of 2025. It also made three key changes to ABLE accounts that...

ABLE accounts can enhance quality of life for people with disabilities, offering financial protection while preserving access to public benefits for some individuals.

Qualifying people with disabilities can accumulate savings in a tax-free ABLE account without risking their means-tested public benefits. In 2024, the annual limit on how much money one can deposit into these accounts will rise to $18,000 per year.

U.S. Sen. Bob Casey (D-PA) has announced a new bill that seeks to make it easier for people in the disability community who are living with limited resources to open an ABLE savings account.

ABLE account owners who are employed can contribute work income to this type of account beyond the typical $17,000 annual threshold until the end of 2025.

The Senate and House have cleared the passage of a year-end $1.7 trillion appropriations bill that will affect people with disabilities on several fronts.

The list of things you can spend Achieving a Better Life Experience (ABLE) account funds on is long, and keeps growing.  ...

The maximum amount that can be contributed each year to an ABLE account for a person with disabilities just rose $1,000 to $16,000.  The figure had been stuck at $15,000 since 2018.  ...

ABLE accounts and special needs trusts can accomplish the same goals, but each has its advantages and limitations. The best approach, depending on the beneficiary, may be to use them in tandem.