Articles
Through 2011, taxpayers are allowed up to a $4,000 above-the-line deduction for qualified higher education tuition and related expenses. Unless extended by Congress the deduction will no longer be available after 2011.Taxpayers are allowed ...
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Self-employed taxpayers should consider their options carefully when it comes to applying tax benefits for their own education tuition and expenses. Tax law provides multiple ways to benefit from the educational expenses and one may provide more benefi...
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When this deduction was first created some years back the deduction was limited to interest for the first 60 months after the first payment was due. The 60-month rule was temporarily eliminated through 2012. Without further Congress...
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The law provides for two nonrefundable tax credits, the American Opportunity (or Hope Scholarship credit) and the Lifetime Learning Credits. Both credits will reduce a taxpayer's tax liability dollar for dollar until the tax reaches zero. Any ...
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You might want to consider gifting stock that has appreciated in value to your children (over age 23) to help pay for their education or to purchase a home, or to parents to help pay for their eldercare. By doing this, you shift the tax liability for t...
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This section is provided to assist clients in the various aspects of post-secondary education planning including tax benefits, aid programs, educational savings programs, etc. We encourage you to call for an appointment so that we can help you pl...
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This section is provided to assist clients in the various aspects of post-secondary education planning including tax benefits, aid programs, educational savings programs, etc. We encourage you to call for an appointment so that we can help yo...
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Generally, when funds are withdrawn from an IRA before a taxpayer reaches age 59-1/2, a 10% early withdrawal penalty applies to the distribution. However, penalty-free withdrawals are permitted if the funds are used to pay qualified higher education ex...
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Generally, when funds are withdrawn from an IRA before a taxpayer reaches age 59-1/2, a 10% early withdrawal penalty applies to the distribution. However, penalty-free withdrawals are permitted if the funds are used to pay qualified higher education ex...
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Self-employed taxpayers should consider their options carefully when it comes to applying tax benefits for their own education tuition and expenses. Tax law provides multiple ways to benefit from the educational expenses and one may provide more benefi...
Read More
