File Your Taxes Now » Tax Benefits for Education

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...

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.

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.