Student loan interest deduction talks about an income tax deduction that gives borrowers the capacity to remove up to $2500 on the interest they paid on a student loan that qualifies...
Posted by Rosovich & Associates, Inc. on 12/27/2021
Many seniors use savings bonds for good reasons. However, they still provide an incredible way to help pay for the college expenses of a young person. Understanding College Savings...
There are several college savings plans with 529 plans as one of them. It comes with a series of tax benefits and can allow you to build your kid's college funds with time. In...
Posted by Rosovich & Associates, Inc. on 06/18/2021
Many people are less concerned about whether they owe gift taxes or not. A gift tax return is a Federal Government tax return often filed with certain terms and conditions by the gift's...
A qualified tuition program, also known as section 529 plans, is an impressive way to prepare to take care of your college finances. What is a Qualified Tuition Program?A qualified...
If you decide to go back to school or help pay for the tuition of a child or grandchild, keep in mind that certain types of expenses may qualify for special tax treatment. Many pension...
Posted by KLSM CPA Firm PLLC on 05/22/2022
First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...
With many tax benefits available for education, it is evident that the government is interested in making higher education open and more accessible for many people. It can be...