TaxAudit Blog

Tag: credits

school book with graduation hat and jar of coins on it

With all the required tuition, books, and fees for college students, not to mention the cost of room and board - what education expenses are tax deductible?

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Baby with bottle

The cost of baby formula for your own infant is generally not considered something you can write off on your taxes. However, there are exceptions.

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Warning tax scam sign laying on a keyboard

The IRS has published a “Dirty Dozen” list to warn taxpayers to beware of joining the thousands of people who lose millions of dollars to scammers each year.

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Tax Credits

Non-refundable credits can reduce your tax liability to zero. Refundable credits can give you money back if the amount of the credit is more than you owe.

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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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