Posts tagged as:

education

Back to School: Education Costs as Business Expenses

25 September 2011

t’s common to think about education expenses as they relate to fresh faced college students just starting out – but what about the rest of us? Can you deduct the cost of an education when you’re not pursuing a degree or certificate for your first career? You might. Under some circumstances, you may be able [...]

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Back to School: Education Tax Credits

18 September 2011

Education tax credits can help offset the costs of paying for your education or costs you pay for an eligible student who is your spouse or a dependent you claim on your tax return. For 2011, the American Opportunity Credit and the Lifetime Learning Credit are available to qualified taxpayers who pay expenses for eligible [...]

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Back to School: The 411 on 529

13 September 2011

Take a good look at this face. If all goes according to plan, you’re looking at Penn State University’s starting quarterback in 2025. No, it’s not just because he’s handsome, likes sports and has godmothers that happen to be rabid PSU football fans (as if there are any other kind) – though those things are [...]

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The White Haired Senior Tax Amendment

15 June 2011

Every now and again when I’m researching, I come across little tidbits in legislative history that make me laugh. Today is one of those days. In 1986, Sen Robert T. Stafford (R-VT) proposed the following amendment as S.AMDT. 2060: To provide that no person over 75 years of age with net income less than $40,000 [...]

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Cheers for a Soda Tax?

15 June 2011

Americans love their soda. According to the Center for Science in the Public Interest (report downloads as a pdf), in 2004, the average American consumed 37 gallons of carbonated, non-diet soft drinks. That works out 59,000 calories – or roughly the equivalent of 17 pounds in one year. In good news for the soda industry, [...]

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Deduct This: The History of Student Loan Interest

13 June 2011

This week, I reached a pretty significant milestone: I finally paid off my undergraduate student loans. Hold the champagne: I now get to plug away at graduate loans which are much bigger. Don’t read too much into that, it’s not a complaint in the real sense. I have always considered my education an investment and [...]

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Making Sense of Where Tax Dollars Go

20 May 2011

Today, my first grader will get up on stage and have quite possibly the last music recital of her (so far) brief academic career. Together with my third grader, she will sing numbers they’ve been working on for most of the semester. I’ve been told to expect “Brown Eyed Girl” for one of them – [...]

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Should a “Graduate Tax” Be Tied to Earnings?

10 August 2010

When I was in college, I spent a year in the northeast of England (Hull, to be exact) on an exchange program. I had a blast. I also learned a lot about the British educational system. My peers also learned a lot about our system in the US – and were shocked to learn how [...]

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Ask the taxgirl: Deducting College Expenses

3 April 2010

Taxpayer asks: I am retired and my wife and I support a son in college. We send him $2000/mo for room and board and I spend another $900/month paying off his Sallie Mae student loans. Is any of this deductible? If so, where do I declare it on my tax form. I generally use an [...]

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