If you have kids going to college or you or your spouse is going for a degree, there are two education tax credits that can really help you recoup some of those education costs with reduced credits.
http://content.govdelivery.com/accounts/USIRS/bulletins/f4e525?reqfrom=share
The American Opportunity Credit is a better credit than the Lifetime Learning Credit in that up to $1000 of that credit is actually refundable, while none of the Lifetime Learning Credit is refundable, plus there is an extra $500 of credit from the American Opportunity Credit. Either credit will help you pay some of your college expenses, though.
You can count on us to count for you!
Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com
Android and the IPhone:
Has been Featured On
https://twitter.com/bstonercpa