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Insights from the Fastlane

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Michael DiSabatino of Sharp CFO™ shares expert insights to help you unlock your business's full potential by delivering proven strategies for maximizing tax savings, streamlining operations, and driving sustainable growth.

The information provided on this site is for general informational purposes only and should not be construed as professional financial, tax, or legal advice. For advice tailored to your specific situation, we recommend consulting with a qualified professional.

Which Education Credit is Best for You?

Which Education Credit is Best for You?
The Lifetime Learning Credit (LLC) vs American Opportunity Credit (AOTC)

There are many tax benefits within the tax code to help pay for college expenses. Two of the most popular are the Lifetime Learning Credit (LLC) and the American Opportunity Tax Credit (AOTC). Not sure which is best? Here are some key differences:

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Age matters in the world of taxes

Age matters in the world of taxes

Are you aware of the numerous age-related provisions in the IRS code? They are probably more plentiful and significant than you thought. Here are a few examples of the age-related tax rules that could affect you and your dependents.

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College Tax Savings: 2014 EditionEvery little break helps

 

College Tax Savings: 2014 Edition
Every little break helps

 

With the start of school just around the corner, it is hard to ignore the high cost of funding a college education. Thankfully, there is some help within the tax code. Outlined here are three of the more popular ways to reduce your taxes in 2014 as a result of this educational expense burden.

Who Qualifies:

Typically you, your spouse, or a dependent who can be claimed as an exemption on your individual tax return

Qualified Expenses:

Tuition and fees, course-related books, supplies and equipment

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