American Opportunity Credit

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Glossary: Lifetime Learning Credit

By | March 29th, 2017|Categories: Glossary|Tags: , , , |

The Lifetime Learning Credit is a tax credit available for taxpayers who pay college expenses. This credit is similar to the American Opportunity Credit, but there are some key difference

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Basics of Taxes, Part 4: Tax Benefits for College Students

By | May 13th, 2016|Categories: Potpourri of Tax Topics|Tags: , , , |

there are several tax benefits for college students, including: 1) American Opportunity Credit, 2) Lifetime Learning Credit, 3) Deduction for tuition and fees, 4) Deduction for student loan interest

Basics of Taxes, Part 3: Filing Status and Tax Credits

By | May 9th, 2016|Categories: Potpourri of Tax Topics|Tags: , , , |

In this part, we’ll talk more about the mechanics of filing your tax return. This includes things such as choosing a filing status and deciding which form to use.

Iowa Tuition & Fees Deduction – A Reminder from IDR

By | April 11th, 2012|Categories: Potpourri of Tax Topics, State Taxes|Tags: , , , |

You can only take the tuition and fee deduction on your Iowa return if you took it on your federal return.

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IRS Has Back-to-School Tax Tips for Students and Parents

By | August 19th, 2011|Categories: Potpourri of Tax Topics|Tags: , , , , |

Hard to believe, but it's already back-to-school time.  The IRS has information about the education credits and deductions that are available (from IRS Summertime Tax Tip 2011-18): Typically, these benefits apply to you, your spouse or a dependent for whom you claim an exemption on your tax return. 1.  American Opportunity Credit  This credit, originally created [...]

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