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Friday, March 20, 2015

Tax Benefits When You've Got Students in College

Save Money on College
Paying for college is tough enough, so be sure you are getting any of the tax benefits that you may be eligible to receive. NACAC, National Association for College Admission Counseling, offers "Missed Opportunities: Higher Ed Savings Plans and Tax Credits" as a resource to learn more about potential benefits. Tax Breaks for Higher Education has an updated 2014 guide to help families and  The IRS has this form for parents describing the American Opportunity Tax Credit and the Lifetime Learning Tax Credit. 
File the FAFSA for College Aid

Tax credits and tax deductions can help when it comes to paying for college. Read up and consult your accountant or tax advisor with any questions.