Are
you making the most of tax benefits
designed to offset some of the high costs of education? The American Taxpayer Relief
Act of 2012, which settled
the year-end fiscal cliff debate, extended the American Opportunity Tax Credit through 2017.The credit
provides a tax break of up $2,500 for qualified college
expenses. The Act also made permanent several
education-related tax options,
including a $2,000 maximum contribution amount for Coverdell
education savings accounts, which can be used to pay certain elementary, secondary
and post-secondary expenses.
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