Remember Those Education Tax Credits!

Remember Those Education Tax Credits!

Posted By: Jennifer O'Neill // Aug 30, 2017

As back to school approaches, this is a good time to remind people of the tax benefits for education.There are two tax credits available to those who pay higher education costs for themselves, a spouse or a dependent.

The American Opportunity Credit (AOTC) – Worth a maximum benefit of up to $2,500 per eligible student.

The Lifetime Learning Credit (LLC) – Worth up to $2,000 per tax return, per year, no matter how many students qualify.

For more detailed information on these credits, contact your tax preparer or contact IRS Help for assistance.

Sandee Strachan, VP of Operations

 

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