TaxAudit Blog

Category: Education

Student Loan Interest Deduction

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.

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Piggy bank with graduation hat on

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.

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Money with a graduation hat laying on top

Paying for college tuition is an expensive endeavor. Fortunately for those who qualify, there are some tax breaks available.

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teacher with students in a library

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.

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student loans

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.

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Magnifying glass over tax forms with crime scene tape

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.

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Graduation Hats

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

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books

Are Education Tax Credits Available When the Education Expenses are Covered by a Scholarship or Grant?

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books

We wanted to let you know that, yes, there are some tax benefits to hitting the books.

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stacked books, diploma, and graduation hat

Since 2008, college costs in the U.S. have risen 30%.Many folks' salaries are not keeping pace.

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woman helping taxpayer with taxes

The IRS opened up its LITC grant application process for organizations looking to serve and educate low-income taxpayers.

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boy with glasses thinking

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?

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Students wearing graduation hats

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?

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books, diploma, and graduation hat

If you have started a family, you know there are many things to take into consideration, including planning for your child’s education. 

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Nurse helping woman

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.

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stacked books, diploma, and graduation hat

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? 

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