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CPAsNET Firm Of The Month

September 2015

If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able to claim a tax credit on your federal tax return. Here are some key IRS tips that you should know about e tax credits:
  
• American Opportunity Tax Credit. 
The AOTC is worth up to $2,500 per year for an eligible student. You may claim this credit only for the first four years of higher education. Forty percent of the AOTC is refundable. That means if you are eligible, you can get up to $1,000...

CPAsNET.com
P.O. Box 7648 solutions@cpasnet.com phone: 609-890-0800
Princeton, NJ 08543 September 1, 2015 fax: 609-689-9720