5. Hidden Tax Break #4: Education Tax Breaks
Education-related costs, including the American Opportunity Credit (AOC) and Lifetime Learning Credit (LLC), may qualify for charge breaks. The AOC offers up to $2,500 per student to start with four years of higher education, whereas the LLC gives a credit of up to $2,000 for qualified instruction costs. Explore more on the American Opportunity Credit here.
Eligibility for Education Credits
It’s essential to remain up-to-date on these credits, as they have particular capability criteria and wage limits. However, they are an uncommon way to offer assistance and diminish the financial burden of instruction costs.
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