The Motley Fool
FEBRUARY 24, 2024
Image source: Getty Images The costs of higher education are a major pain point for students and young workers. The IRS offers education tax credits that can reduce the amount you owe in income taxes if you paid for higher education throughout the year. The student is pursuing a degree or other recognized education credential.
The Motley Fool
MARCH 17, 2024
American Opportunity Tax Credit (AOTC) The American Opportunity Tax Credit (AOTC) is an education tax credit that you may be eligible for if you paid for some of your child's higher education costs in 2023. You can use the credit to offset undergraduate education costs, like tuition, books, and supplies.
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The Motley Fool
MARCH 27, 2024
This account can help you save for your child's future education expenses, including tuition, room and board, and even books and supplies, at any accredited college, university, or vocational school. Plus, withdrawals used for qualified education expenses are not taxed.
The Motley Fool
APRIL 21, 2024
This article is intended for educational purposes only and is not legal advice. That also may be the ideal time to consult an estate attorney or financial advisor experienced in such matters. Consult a knowledgeable tax attorney to be sure. For guidance on your personal situation, please contact a lawyer. Or it might not.
The Motley Fool
JULY 19, 2024
Launch a consulting business I read a book recently where the author had to pivot from a career he had been in for years because of an intense bout of anxiety. After reflecting on his skills and passion, he switched careers and launched a successful consulting business.
The Motley Fool
AUGUST 5, 2023
It's especially important to consult an expert in estate and retirement planning once you add in direct gifting and your own retirement and senior living plans. Invest in their education An education may well be the greatest gift you can give. Your children and grandchildren will see your values in action.)
The Motley Fool
FEBRUARY 12, 2024
This article is intended for educational purposes only and is not legal advice. Unless you're an expert, consult one As the IRS points out in its trust definition, a trust is formed under state laws, and "you may wish to consult the law of the state in which the organization is organized.
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