All About CalAble Accounts
April 23 @ 6:00 pm - 7:30 pm
CalABLE (California Achieving a Better Life Experience) is a tax-advantaged savings and investment program for individuals with disabilities. It allows eligible individuals to save money for disability-related expenses without losing access to public benefits like Supplemental Security Income (SSI) or Medi-Cal. What you’ll learn in this training:
- What is the ABLE (Achieving a Better Life Experience) Act, the federal law authorizing states to establish ABLE programs in their respective states;
- Who is eligible to open a CalABLE account, California’s version of ABLE accounts;
- How to open and manage a CalABLE account;
- What counts as qualified disability expenses;
- How CalABLE helps you save beyond the $2,000 asset limit for SSI;
- The tax benefits of CalABLE (tax-deferred growth and tax-free withdrawals for qualified disability expenses); and
- How CalABLE supports financial independence for children and adults with disabilities.