What kind of benefits do I get?
One of the main benefits of having a STABLE account is being able to save for qualified expenses and invest for the future in a tax-advantaged account.
MO ABLE contributions are tax deductible for Missouri taxpayers. Single tax filers can deduct up to $8,000 of contributions, and joint tax filers can deduct up to $16,000 of contributions on their State of Missouri income tax filings.
Your Supplemental Security Income (SSI) will not be affected as long as the account balance stays below $100,000. Other federally means-tested benefits are not affected regardless of the amount saved in the account. You’ll also get access to a simple and intuitive online platform to manage your account.