File Your Taxes Now » Student Tax Tips

Back-to-School Tips for Students and Parents Paying College Expenses

Admin — Tue, 23 Aug 2011 10:18:35 +0000

For each student, you can choose to claim only one of the credits in a single tax year. However, if you pay college expenses for two or more students in the same year, you can choose to take credits on a per-student, per-year basis. You can...

Six Tips for Students with a Summer Job

Admin — Fri, 09 Jul 2010 12:25:32 +0000

School’s out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job.

Technology Expenses Make the Grade for Qualified Tuition Programs

Admin — Wed, 14 Apr 2010 00:05:41 +0000

Taxpayers who purchase computer technology for higher education purposes may be eligible for a special tax break. The American Recovery and Reinvestment Act of 2009 added computer equipment and technology to the list of college expenses that can be paid for by a qualified tuition program, commonly referred to as a 529 plan.

Tax Credit Helps Pay for Higher Education Expenses

Admin — Sat, 20 Feb 2010 08:15:48 +0000

The American Recovery and Reinvestment Act was passed in early 2009 and created the American Opportunity Credit. This educational tax credit – which expanded the existing Hope credit – helps parents and students pay for college and college-related expenses.

Ten Tax Tips for Taxpayers with Children and Students

Admin — Fri, 15 Jan 2010 11:18:13 +0000

Do you have children? Having children or students enrolled in higher education will most likely change your tax situation. Below you will find 10 things you should consider before filing your taxes.

Six Facts About the American Opportunity Tax Credit

Admin — Fri, 02 Oct 2009 00:39:14 +0000

Many parents and college students will be able to offset the cost of college over the next two years under the new American Opportunity Tax Credit. This tax credit is part of the American Recovery and Reinvestment Act of 2009.

Seven Tax Tips for Students with a Summer Job

Admin — Mon, 20 Jul 2009 17:58:44 +0000

Many students get a summer job during their time off from school. Here are the top seven things the IRS wants everyone to know about income earned while working a summer job. Taxpayers with multiple summer jobs will want to make sure all their employers are withholding an adequate amount of taxes to cover their total income tax liability.

Offsetting Your Education Costs

Admin — Fri, 15 May 2009 21:06:32 +0000

Education tax credits can help offset the costs of higher education for yourself or a dependent. The Hope Credit and the Lifetime Learning Credit are two education credits available which may benefit you. Because they are credits rather than deductions, you may be able to subtract them in full, dollar for dollar, from your federal income tax.