Tax credits and deduction for students

Описание к видео Tax credits and deduction for students

Being a student who’s pursing higher education certainly has its benefits, one of them including the tax incentives that comes with such pursue.

There are two types of tax credits and one deduction that eligible students can certainly take advantage of.
These credits include the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). Each having its own requirements though there are some differences, of which must be taken into consideration before claiming either credit.

The Tuition and Fee Deduction allows students to claim up to $4,000 in education expenses as part of this deduction.

Each of these student related incentives are discussed in much detailed throughout this video.

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