Are you aware of the education tax credits or several education-related tax benefits? In general, the American opportunity tax credit, lifetime learning credit, and tuition and fees deduction are available to taxpayers who pay qualifying expenses for an eligible student. Eligible students include the primary taxpayer, the taxpayer’s spouse or a dependent of the taxpayer.
Consult with your tax preparer to see what is available to you as each student can only claim one per year!
For more information visit: http://taxtacklers.com/parents-and-students/ or Find the full article at IRS.Gov
