Best 529 Plan in Illinois The quick answer: Bright Start Direct-Sold College Savings Program Illinois’s state-sponsored 529 plan is Bright Start Direct-Sold College Savings Program. Illinois offers a state income tax deduction for contributions. Unlike the nine “tax parity” states, Illinois only offers this benefit for contributions to Bright Start Direct-Sold College Savings Program specifically … Read more
Illinois Property Tax Rates The quick answer Illinois’s average effective property tax rate is 1.88% of a home’s assessed value per year — above the national average of 0.99%. That ranks Illinois 2nd highest out of the 50 states (1st is the highest-taxed state). Illinois is among the dozen highest property-tax states in the country. … Read more
Illinois Income Tax Rates (2026) The quick answer: a flat 4.95% rate Illinois taxes income at a single flat rate of 4.95%, regardless of how much you earn. Unlike a graduated system, there are no brackets to climb through — the same rate applies to your first dollar of taxable income and your last. Illinois … Read more
Does Illinois Tax Social Security? Short answer: no Illinois does not tax Social Security benefits at the state level. If you’re planning to retire in Illinois, or you’re already there, your Social Security checks aren’t reduced by state income tax. No state-level tax on Social Security benefits Applies regardless of your total income or filing … Read more
Nicholas Bulgin is an entrepreneur and investor with hands-on experience across stocks, cryptocurrency, real estate, and emerging asset classes. He writes about the practical mechanics of building and managing wealth.