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U. S. Savings Bonds & The Education Tax Benefit

Did you know that beginning with Bonds purchased in 1990, the interest earned on Series EE Savings Bonds can be excluded from Federal income tax? (As well as from state & local income taxes)

It can be excluded from Federal income tax if you pay tuition and fees at colleges, universities and qualified technical schools during the same year that the Bonds are cashed. The exclusion applies to the educational expense of yourself, your spouse, and your dependent children.

These are the same Series EE bonds that, when held 5 years or more, earn market-based interest or guaranteed rates - whichever is more. They are the same EE Bonds we sell at our banks that are always free from state or local income taxes, are backed by the full faith and credit of the United States and can be replaced free of charge if they are stolen, lost, or destroyed.

Sound good to you? Stop in or call one of Ohnward's banks to purchase your new Series EE , U.S. Savings Bond.

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