Spring break, summer vacation, meeting at the Union, Thursday night parties, Saturday tailgating and football... now that was what defined our college days. However, tuition, buying text books, pencils, pens and calculators, and dare I say the DEBT! Yes, that's the reality.
But things have changed for students that are currently enrolled in both undergraduate and graduate school.
The American Opportunity Credit is available again until 2012 and will allow taxpayers to deduct qualified education expenses up to $2,500.
And just because you’re not a traditional student it doesn’t mean that you can’t benefit as well. The lifetime learning credit benefits graduate students or those returning to school.
For more information on these Education Credits go to Libertytax.com and watch my Education Credits Tax Tip Video on this and many more!