Tag Archive: American Opportunity Tax Credit

Sep 25 2014

Tax Benefits for Education

The price of higher education can be expensive for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs. Tax credits, deductions and savings plans can help taxpayers with their expenses for higher education. A tax credit reduces the amount of income tax you may have …

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Permanent link to this article: http://www.easttexasreview.com/tax-benefits-for-education/

Nov 23 2013

Understanding the ‘Kiddie Tax’

For something whose nickname sounds so innocent, the “kiddie tax” certainly can wreak havoc on unprepared taxpayers’ yearly returns. Congress first introduced the kiddie tax as part of the Tax Reform Act of 1986 to discourage wealthy parents from sheltering their investment income in accounts under their children’s names, thereby avoiding paying taxes on the …

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Permanent link to this article: http://www.easttexasreview.com/understanding-the-kiddie-tax-2/