If you want to give your kids a head start in saving for college, there are a variety of ways to do so. For example, you can open a savings account or begin investing money into stocks. Both can be done in your name or your child’s name. Another option is to choose a tax-advantaged […]
Does College Debt Have Tax Benefits?
The cost of higher education in America goes up every year. For the 2013-2014 school year, the average annual price tag for tuition and fees at a public four-year college was $8,893 (in-state) and $22,203 (out-of-state). The annual tuition and fees at private four-year colleges was more than $30,000 a year! It’s no wonder that […]
Education Tax Benefits – Before, During and After College
With so many tax-favored plans, credits, and deductions, education tax benefits can seem complicated. Where do you start? If the number of available education tax benefits is any indication, the government has taken interest in promoting higher education and making it easier for more people to attain it. Sorting out all the different benefits can […]
3 College Savings Plans with Tax Benefits
Need help deciding between college savings plans with a tax-saving edge? Here are the tax benefits for three basic plans specifically designed for college savings: 1. Qualified Tuition Program (529 Plan) You’ve no doubt heard of Qualified Tuition Programs, commonly known as 529 plans. It’s a popular way to save for college, and you can […]
Key Education Tax Benefits to Cut College Costs
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Other than buying a home, a college education is one of the biggest investments Americans typically make. College costs are continually on the rise making student loan debt at an all time high to $870 Billion. The average student is more than $27,000 in debt. Fortunately, you may be able to cut your college costs […]
Key Tax Benefits to Receive a Bigger Tax Refund
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Do you dread income tax time every year? Well if there is one thing to remember during income tax time, to maybe ease the process, remember this: Three out of four taxpayers receive a federal refund, and the average direct-deposited refund last year was $3,116. Pretty nice tax refund don’t you think? Tax savings opportunities […]
