Tag Archives: American Opportunity Credit
Just because you are a fulltime student doesn’t mean you are automatically exempt from filing a tax return or reporting your income. If you didn’t have enough withheld during the year, you may owe a surprising amount of taxes. If you don’t have to file a return, you still should, as you may be entitled […]
— Read moreMany people instinctively file their tax returns, which is great, because most people are required to file. However, some people aren’t required to file, though it may be beneficial to them to do so. If you are filing a tax return, you’ll want to pay attention to some new rules taking effect this year. Use […]
— Read moreYou can use these benefits you get back some of the costs of tuition or interest paid on student loans, allowing you to maximize your college savings. Educations expenses and Tax Credits – You can use two tax credit to help with the cost of certain items; such as books, supplies, equipment, fees and tuition. […]
— Read moreThe federal government has set up education credits to help Americans who seek higher education. These credits consider “qualified higher education expenses” such as tuition and course fees. Boarding, meal, transportation, and other fees do not qualify as a credit expense. Additionally, money paid for a course which doesn’t apply credit to the degree sought […]
— Read moreNot too many things can make you happy when it comes time to pay your taxes. The tax credit can be your friend and ally during tax season, so it’s important to get informed about which credits you may qualify for. Tax credits reduce the amount of tax you are responsible for paying, and some […]
— Read moreFor those paying for their education, there are a few tax credits that can help decrease the amount owed. The American Opportunity Credit and the Lifetime Learning Credit are available to those responsible for education expenses, such as tuition, fees, textbooks, supplies, and equipment. Some incurred expenses, like insurance, transportation, and personal fees aren’t eligible […]
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