So, the tax season is upon us. Time to dig out all your last year’s receipts, paycheck stubs, W-2s, 1099s and any other income and expense related materials. However you choose to make your filing — on your own, with the help of a service provider like HR Block or Jackson Hewitt, or online with a program like TurboTax — you should know that there are some pretty significant deductions you can claim for monies you spent in pursuit of online education with Allen School Online. Now I am not an accountant and I don’t suggest you take this material as legally qualified tax planning advice. But there are places you can go to find out about the deductions you may be entitled to for spending time and money studying medical office assistant and/or medical billing and coding. Start here for a pretty good overview of what you can reasonably deduct. The list includes tuition, interest paid on educational loans, cost of books, supplies and materials and other school-related expenses. Depending on your level of income, you may or may not derive benefit from these deductions, but its worth a few extra minutes to look into what you may qualify for. After all, why leave money on the table? So, the tax season is upon us. Time to dig out all your last year’s receipts, paycheck stubs, W-2s, 1099s and any other income and expense related materials. However you choose to make your filing — on your own, with the help of a service provider like HR Block or Jackson Hewitt, or online with a program like TurboTax — you should know that there are some pretty significant deductions you can claim for monies you spent in pursuit of online education with Allen School Online. Now I am not an accountant and I don’t suggest you take this material as legally qualified tax planning advice. But there are places you can go to find out about the deductions you may be entitled to for spending time and money studying medical office assistant and/or medical billing and coding. Start here for a pretty good overview of what you can reasonably deduct. The list includes tuition, interest paid on educational loans, cost of books, supplies and materials and other school-related expenses. Depending on your level of income, you may or may not derive benefit from these deductions, but its worth a few extra minutes to look into what you may qualify for. After all, why leave money on the table? One Response to “Don’t Miss Out on Education Tax Credits”
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I scored a nice refund this year (yes, I got it done early) thanks in part to my higher education deductions and credits.