Chart: Can You Claim It?
This chart comes to us via the Federal student loan lending agency, Sallie Mae, via Business Wire. The chart highlights three commonly available but oft misunderstood tax breaks for education expenses.
While the typical expense for college far exceeds the credits and deductions available, a few thousand bucks back from Uncle Same can certainly ease the bite. Note, too, that credits are available for non-traditional students, i.e. the worker who wants to augment a resume with job training. We’ll explore this more in our next Tip of the Week, but in the meantime be sure to work your way through the chart and related news release prior to filing your taxes to make sure you’re aware enough to file accordingly.
For more on these tax benefits, see this related post.