Education and Taxes

College Scholarships

As many college students have found out over the last few years, the tax laws aren't what they use to be. Now it all depends on whether your client has a degree or not and what they need the money for. Find out about how your client's taxes may be affected by their scholarship.

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Claiming Deductions on Student Loan Payments

The taxpayer, his or her spouse, or dependent can use this relatively new student loan deduction to save up to $2000 on interest paid on a student loan for up to 60 months after the loan was acquired. But this deduction does carry some restrictions on it. Find out more!

Employer Educational Aid

Your client can receive up to $5,250 from their employer as tuition assistance to take job related undergraduate courses tax-free. The tax exemption only applies to undergraduate college courses; grad level courses are not tax deductible. However, there is a little loophole that can help people take graduate level courses and still claim $5,250 in tax exemption. Find out how it all works...more

Education Credits

There are two basic credits for education--the Hope Scholarship Credit and the Lifetime Learning Credit. Keep in mind that these credits reduce your clients' taxes dollar for dollar...more

Future Investments for the Children

It has been estimated that for a public college 4-year education the cost will be over $100,000 and for a private 4-year education the cost will exceed $200,000 by the time today's child reaches college age! See how to help your clients afford it by following our simple steps!

Job Related Training Courses

Anytime your client takes an educational course that might help them with their work or trade they might be able to write it off as a business expense. Check out the requirements for eligibility for these deductions.

College Grads

Those newly graduated from college and starting out into the wide wide world can take comfort in the fact that the tax code can help them out in the areas of paying off student loans as well as relocating to their new jobs?