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New Limits for ABLE Accounts Now in Effect
Amid the slew of changes for 2024, the IRS announced new limits on the amount of savings available to holders of Achieving a Better Life Experience (ABLE) accounts. ABLA accounts allow states to create tax-advantaged savings programs for eligible people with disabilities (designated beneficiaries). The new limit is $18,000, as explained in a post by financial writer Michelle Diament today on disabilityscoop.com. Read the article here.
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