After Tax Deductions

Oregon College Saving Plan

Many families hope to see their child or loved one graduate from college someday, but it takes more than hope to get there. The Oregon College Savings Plan is a 529 plan that can help your family get there. Oregon offers a 2014 state income tax deduction of up to $4,530 for married taxpayers filing jointly and $2,265 for single filers, adjusted annually. Recapture provisions apply. Please consult your tax advisor. You can get more information regarding the Oregon College Savings Plan on their web site

Before the district can set up your deduction you will have to set up an account with OCS. After your account is set up you will need to fill out an Oregon College Saving Plan Payroll Deduction form which can be found either on the OCS website or on the district website. The payroll department will need a copy of this form and the original needs to be sent to the OCS plan.