Education and Taxes

Job Related Training Courses

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

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Employer Educational Aid

You can receive up to $5,250 from your 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

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 you have a degree or not and what you need the money for. Find out about how your taxes may be affected by your scholarship...more

Future Investments for Your 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 your child reaches college age! See how to afford it by following our simple steps...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 taxes dollar for dollar.

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!

Tax Tips

Tax Tips for 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?