If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored accounts, such as 529 plans. But there are also a number of tax breaks that you may be able to claim once your child begins attending college or post-secondary […]
Tax-saving ways to help pay for college — once your child starts attending Read More »
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation. In general, it depends on which filing status results in the lowest tax. But keep in mind that, if you and your spouse file a joint return, each of you is “jointly
Married couples filing separate tax returns: Why would they do it? Read More »
Attending college is one of the biggest investments that parents and students ever make. If you or your child (or grandchild) attends (or plans to attend) an institution of higher learning, you may be eligible for tax breaks to help foot the bill. The Consolidated Appropriations Act, which was enacted recently, made some changes to
Educate yourself about the revised tax benefits for higher education Read More »
Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person, or under a hybrid schedule. In any event, parents may be eligible for certain tax breaks to help defray the cost of education. Here is a summary of some of the tax breaks available for education. 1. Higher education tax
Back-to-school tax breaks on the books Read More »
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