Education Tax Credits and Deductions

Multigenerational Families: Top Family Tax Deductions and Credits You Should Not Miss

January 10, 2020 / Elle Martinez

This post can be found en Español here. For practical, cultural, and personal reasons, more families are living in multi-generational homes. According to an analysis of Census data, over 60 million Americans share a roof with their families. While having...

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Tax Planning

Financial Planning Month: Tax Edition

October 1, 2019 / Ginita Wall, CPA, CFP®

The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020) and 2018 taxes, which should be filed by the April 15th, 2019 (or October 15th, 2019 with...

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Education

7 Unexpected College Expenses to Factor Into Your Budget

September 6, 2019 September 25, 2019 / TurboTaxBlogTeam

So, you’re getting ready to head to college for the very first time. First of all, congratulations! Graduating high school and taking the step to go to college is a huge accomplishment, and you should be very proud of yourself....

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Education

Is My Student Loan Tax Deductible?

August 1, 2019 August 5, 2019 / asbbaines

Student loans have become a tremendous burden. Even though you can’t escape the payments, are there any tax breaks for student loans? Luckily, taxpayers who make student loan payments on a qualified student loan may get a little relief.

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Tax Planning

What Your Scholarships and Grants Mean for Your Taxes?

July 22, 2019 August 14, 2019 / Jim Wang

College can be very expensive and many students rely on scholarships and grants to help lower the cost of higher education. When I attended Carnegie Mellon University, I had the help of need-based grants and a handful of merit-based scholarships....

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Education

Intuit TurboTax Preps You For Post-Grad Life With These 5 Financial Tips

April 29, 2019 July 23, 2019 / TurboTaxBlogTeam

Congratulations, Class of 2019 — you did it! While graduation is a major milestone that should be celebrated, it is also a time to prepare, both mentally and financially, for your shift into the “real world.” As you transition into...

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Expenses, Self-Employed

Student Loan Options When You’re Self-Employed

October 3, 2018 March 5, 2020 / Jim Wang

Student loans can be a huge financial burden when you first start working, especially if you are self-employed. As if the challenges of self-employment weren’t enough, you have student loan payments on top of it! Paying off your student loans is...

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Education

Spent Too Much Getting Your Dorm Ready? 4 Savings to Help College Students (or Parents)

September 18, 2018 July 24, 2019 / Jim Wang

With a new college school year underway, it’s comforting to know that you could get some help from Uncle Sam in dealing with the blizzard of college-related expenses that are hitting. The IRS provides a number of education tax credits...

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Tax Deductions and Credits

Happy National Teacher Day! Five Tax Tips to Educate You on Tax Savings

May 8, 2018 March 9, 2020 / Ginita Wall, CPA, CFP®

Thank goodness for teachers! If you are a teacher, you might have your thoughts more on what you will do during your well-deserved vacation than on taxes, but saving on taxes is really a year-round project. So before you close...

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Education

Who Should Take Education Tax Breaks: Parents or Students?

March 30, 2018 March 5, 2020 / Jim Wang

When it comes to education tax breaks, it’s important to carefully consider your options, and decide who is going to take what tax break. Parents have to communicate with their kids since the education tax breaks are only allowed to be claimed on either one of your tax returns and not both.

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The IRS filing deadline has been extended to July 15, 2020, for all taxpayers. See more tax updates related to COVID-19 here.

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