IRS.com is a privately owned website that is not affiliated with any government agencies.

Education

Age features on 529 plans – Risk and Return

Recently, I wrote about a few of the primary features of 529 plans, and I focused on qualities proven to provide higher returns. Suffice it…


Understanding the Coverdell education savings plan

In the race for class president, these days Coverdell ESAs are the runner-up next to the increasingly popular 529 plan. But the race for class…


Tax advantages of a 529 college-savings plan

Make the right investment decision to finance your children's higher education.Considering the rising cost of education, the earlier you start your college savings plan, the…


Should I use the Lifetime Learning Credit or an education deduction?

If you already have a college degree and want to continue your education, then you have a choice when it comes to the form of…


Will I be taxed for employer tuition assistance?

Employer tuition assistance (aka educational assistance) could be taxable. Check whether your employer's program counts as an exception. As the cost of education rises –…


Educate yourself on college tax breaks

March is a gut-wrenching month for high school seniors waiting for college acceptances ... and for their parents awaiting financial aid awards. But another spring…


When you’re paying for education, make it pay a little back

The tax code has several ways to claim a tax benefit for the cost of a post-secondary education.NEW YORK (MainStreet) — The U.S. tax code…


The rules on deducting student loan interest

You can claim up to $2,500 in interest paid on qualified student loans used to pay for college or vocational school.NEW YORK (MainStreet) — You…