The State of New Jersey is now offering an attractive deduction for families saving for college.

Taxpayers with a gross income of $200,000 or less may qualify for a state income tax deduction when they contribute to a Franklin Templeton 529 College Savings Plan.

Deductions are permitted for up to $10,000 per taxpayer, per year, beginning with contributions in 2022.

As always, call C&B at 201.787.6542 for more information on this opportunity to save on your 2022 tax bill!