The filing status of a taxpayer depends on individual circumstances. Are you married or single? Do you have dependents? Identifying the correct filing condition is essential, as it...
Posted by Elliot Kravitz, ATP on 02/17/2021
What is a dependent?A dependent is a qualified person other than the taxpayer or spouse, who gives the taxpayer the right to request a dependency exemption on their income tax return....
Posted by Income Taxes and Bookkeeping LLC on 02/10/2021
If you paid for college in the past year, you could claim the American Opportunity Credit or the Lifelong Learning Credit, or you can deduct tuition and fees. The American Opportunity...
Posted by Income Taxes and Bookkeeping LLC on 01/30/2021
In the previous years, people who paid for college qualify for the lifetime learning Credit, American Opportunity Credit, or the tuition deduction. The most valuable of these is the...
Posted by The TaxAdvocate Group, LLC on 01/30/2021
Amid all the cautionary advice to prevent students from borrowing too much money to pay for their university education, one bit of good news may go unnoticed: interest paid on student...
Posted by Flynn Financial Group Inc on 08/07/2020
The Lifetime Learning Credit and American Opportunity Tax Credit reduces the amount of tax you owe. Taxpayers could even qualify for a refund with AOTC should the credit be more than...
Posted by Carmen Garcia on 02/21/2020
It could be puzzling to learn about the university lessons credit which could once in a while crush loads of human beings. You can either save the money which you acquire out of the...
Posted by Esther N. Phahla, CPA, A Professional Corporation on 04/20/2018
When it comes down to reclaiming a portion of your college education expenses, you have a couple of options at the time of income tax filing: claiming an education credit, or tuition...
Posted by Advantage Tax Service on 06/07/2017
If you've been working hard to pay for your education, you'll be delighted to learn about getting some of your money back. A few tax credits have been around for a while to give college...
Posted by Valderas Financial Solutions LLC on 04/05/2017
