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Given the skyrocketing cost of higher education, fewer and fewer families can afford college without some form of financial assistance. For many students, loans are what make the difference between attending college and not. But it’s important to plan these loans carefully to...

School is back in session. So, it’s time for a refresher on tax breaks for work-related education expenditures. Here’s what individual taxpayers need to know. American Opportunity Credit The American Opportunity credit equals 100% of the first $2,000 of qualified...

Most of the talk about possible tax legislation this year has focused on either wide-sweeping tax reform or taxes that are part of the Affordable Care Act. But there are a few other potential tax developments for individuals to keep an eye on. Back in December of 2015, Congress...

There are also some non-tax-law provisions that allow student loan borrowers to exclude cancellation of debt (COD) income when the U.S. Department of Education discharges federal student loans. For this purpose, federal student loans include federal Family Education Loans,...

The Internal Revenue Code offers two federal income tax credits for post-secondary education expenses: the American Opportunity credit, and the Lifetime Learning credit. (See “The Basics of Higher Education Credits” at right.) While these credits aren’t new, you...

Attending college or graduate school is one of the biggest investments you’ll ever make — and spring is the time schools normally announce who’s in and who’s out. If you or your child (or grandchild) plans to attend an institution of higher learning in the fall,...

If there was a college student in your family last year, you may be eligible for some valuable tax breaks on your 2015 return. To max out your education-related tax breaks, you need to see which ones you’re eligible for and then claim the one(s) that will provide the greatest...

The increasing costs of higher education have made education planning an important aspect of personal financial planning. However, because the actual expenditure will not be incurred for many years, it is often given a low current priority. Also, some parents are counting on...

When you incur expenses for work-related education, several different tax breaks may be available. Take a look: If you’re self-employed, you can generally deduct unreimbursed expenses on Schedule C (sole proprietor or single-member LLC) or Schedule E (partner or member of...