History For The Federal Taxes: Difference between revisions
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Latest revision as of 01:02, 10 November 2026
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Since two of your students are in college, let's assume that one costs you $15 thousand in tuition. You have a tax credit called the Lifetime Learning Tax Credit -- worth up to 2 thousand dollars in instance. Also, your other child may qualify for something referred to as the Hope Tax Credit of $1,500. Consult your tax professional for one of the most current tips about these two tax credits. But assuming you qualify, that will reduce your bottom line tax liability by $3500.
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