TaxAudit Blog: Education
If my son is doing fire fighting training with no pay, is he considered to be a student for taxes? Can I get a tax credit or deduction with unpaid training?
If you have qualified student loan interest, you may be able to take a tax deduction for a portion of what you paid on your federal income tax return.
There is no tax benefit for applying to enter a college. However, many benefits are available when your application has been accepted and after you enroll.
While homeschooling, can you deduct the cost of classes for skills that the homeschooling parent doesn’t possess, such as ballet classes or piano lessons?
With all the required tuition, books, and fees for college students, not to mention the cost of room and board - what education expenses are tax deductible?
Under some circumstances, you can indeed deduct off-campus housing on your taxes while attending college – but the amount of the benefit is limited.
The short answer is yes, you can deduct education expenses for your dependents, but some limitations and qualifications must be met. Let's explore more.
Yes, you can deduct educator expenses if you are what the IRS calls an “eligible educator.” However, there are certain limitations and conditions involved.
Kindergarten tuition is not deductible because the costs to attend are considered educational expenses. However, qualifying childcare expenses are deductible.
There are some tax-saving opportunities available for graduate school tuition, like the credits for undergraduate expenses. They each have some limitations.
Can Grandparents take a deduction for paying the preschool tuition costs when the child still lives with the parents? To qualify you must meet the following.
There are some parts of the tax code that, in fact, can allow tuition fees to be fully deductible. However, in most cases you cannot deduct private tuition.
Under certain circumstances you can indeed claim a tax benefit for preschool tuition - called the Child and Dependent Care Expenses tax credit.
Yes, of course – well, maybe. Like many tax deductions, the student loan interest deduction for parents comes with a list of conditions that must be met.
A tax deduction for qualified tuition expenses has generally been available for many years. However, it has never been a permanent part of the tax code.
Paying for college tuition is an expensive endeavor. Fortunately for those who qualify, there are some tax breaks available.
If the taxpayer has costs for after school care of a qualifying dependent, those costs may provide some tax benefits. Let's explore these tax benefits.
Yes, you can deduct student loan interest on your tax return if you meet the specific requirements to claim this deduction. The amount you can claim will vary.
You can reduce your risk of falling victim to scammer's schemes by developing a basic understanding of what the IRS can and cannot do.
For the American Opportunity Credit, a student is required to be in pursuit of a degree or recognized education credential and be enrolled at least half-time
Are Education Tax Credits Available When the Education Expenses are Covered by a Scholarship or Grant?
We wanted to let you know that, yes, there are some tax benefits to hitting the books.
Since 2008, college costs in the U.S. have risen 30%. Many folks' salaries are not keeping pace.
The IRS opened up its LITC grant application process for organizations looking to serve and educate low-income taxpayers.
In the Fall my son will go to college and I will be paying his tuition. Can I still claim Head of Household status for my taxes while he is attending college?
With the costs of obtaining a Master of Business Administration skyrocketing - often costing up to $80,000 - you might be wondering: is my MBA tax deductible?
If you have started a family, you know there are many things to take into consideration, including planning for your child’s education.
My wife is a nurse, but she does not have a degree. She is interested in taking classes to get a BSN degree - a bachelor of science in nursing.
We adopted our grandson three years ago - he is now a freshman in high school. When he goes to college, will his tuition be tax deductible?