Check out college-related tax benefits before filing returns

by blog.al.com

taxes

HUNTSVILLE, Alabama — The Internal Revenue Service is reminding parents and students to check out several college-related tax benefits before filing their 2011 returns.

“Two tax credits and a tax deduction are available to those who paid tuition and other expenses for an eligible student during 2011,” IRS spokesman Dan Boone said in a release.

According to the IRS, education tax credits were claimed on 296,602 tax returns out of 2,048,831 total returns filed by Alabamians in 2010. The tuition and fees deduction was claimed on 26,736 tax returns.

Because an eligible student can be the taxpayer, spouse or dependent, these benefits can help workers taking continuing education courses, people returning to school and parents paying for their children’s college education.

Read more…

 

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About smartspending5

I am business-minded college student who has a heart for helping others attain emotional independence and psychological stability. My background lies in Broadcasting, network marketing, and Human Services. I believe that crises and extreme stress is necessary for one to grow and figure out what matters in life (Tony Robbins). This keeps me going when frustrations arise in my business. View all posts by smartspending5

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