I'm preparing my taxes right now and want to find every deduction. With a child in college, I'm almost giddy at the idea of saving even more money.
Uncle Sam will give you a break if you're paying for various college expenses. All you have to do is note them on your tax forms and you can reduce the amount of taxes you owe. It may even qualify you for a refund.
There are three main write-offs for college expenses, according to the IRS. Here's what they entail.
More at: http://www.forbes.com/sites/johnwasik/2016/03/18/big-tax-savings-from-college-expenses/#4fd5a85625fd
Uncle Sam will give you a break if you're paying for various college expenses. All you have to do is note them on your tax forms and you can reduce the amount of taxes you owe. It may even qualify you for a refund.
There are three main write-offs for college expenses, according to the IRS. Here's what they entail.
More at: http://www.forbes.com/sites/johnwasik/2016/03/18/big-tax-savings-from-college-expenses/#4fd5a85625fd
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