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Articles with the keyword "education expenses"

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Your Child is Going to College—Are You Ready?

While attending grammar and high school, your children are continually preparing for the challenges of postsecondary education. Although the transition from high school to college can be difficult, your children are generally well-equipped and ready to tackle the challenges that…

Deduction for Student Loan Interest

A deduction toward adjusted gross income (AGI) is allowed for interest paid on a higher education student loan for the taxpayer, taxpayer’s spouse or any dependent of the taxpayer as of the date the indebtedness was incurred. The deduction is…

College Costs Are Rising Faster than Gas Prices: Is There Help?

As the price of higher education continues to rise, many parents are looking for tax benefits to help reduce the cost. Some options available for you or your college-age children include:Deduction for Qualified Tuition and Related ExpensesUsing U.S. Savings Bond…

Deduction Allowed for Qualified Tuition and Related Expenses

A tax deduction toward adjusted gross income (AGI) is allowed for qualified tuition and related expenses paid during the taxable year, limited to:$4,000, if your AGI does not exceed $65,000 ($130,000 for a joint return);$2,000, if your AGI is between…

Using U.S. Savings Bond Interest to Pay Educational Expenses

Qualified U.S. savings bond interest used to pay higher-education tuition and fees during the taxable year are not includible in gross income to the extent that the aggregate redemption proceeds from the bonds redeemed during the year do not exceed…


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This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.