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Nov 19, 2020Education Credit
You can qualify for an education credit if you paid the cost of higher education. It reduces the amount of taxes you owe on your return and could lead to a refund. There’s two education credits; the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). You can claim an education credit if […]
adminJun 28, 2018Tuition and Fees Deduction
The tuition and fees deduction, which allow a maximum deduction of $4,000, expired after the 2020 tax year. This means you cannot claim this specific deduction for tax years 2021 and later unless Congress extends it again. For Tax Years 2020 and Prior The tuition and fees deduction is still applicable for the tax years 2020 and […]
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