Parkway e-News Story

College Savings Plan for Missouri Residents

Missouri has a Section 529 college savings plan known as MOST that helps individuals and families save for college expenses through a tax advantaged investment plan. The plan features significant federal and state tax benefits, including a state income tax deduction of up to $8,000 per year ($16,000 if married filing jointly) for Missouri taxpayers. All earnings on the plan are tax free if the money is used for your children's college or other post-secondary education expenses. An account can be opened for as little as $25.00. Your child does not need to attend a college in Missouri for these tax benefits to be received. For further information, call 1-888-414-6678 or go to http://www.missourimost.org.