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Tax Credit Consulting: Education Credits Portales NM

Just about any expense that is required for your attendance is eligible for the credit. Room and board are not covered, nor is insurance or any type of expense for optional activities at school.

Max Leach (RFC®), CLU, RFP
(505) 344-2255
10308 Candelaria NE #345
Albuquerque, NM
Qualifications
Education: BS
Years of Experience: 16
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, BuySell, LiabCover, Compensation Plans

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H&R Block
(505) 792-0997
8201 GOLF COURSE rdNW STE F-2
ALBUQUERQUE, NM

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H&R Block
(505) 888-1710
6600 MANUAL NE STE M6
ALBUQUERQUE, NM

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H&R Block
(575) 628-8896
2401 S CANAL ST
CARLSBAD, NM

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Liberty Tax Service
(866) 871-1040
1449 Eubank Blvd NE Ste A
Albuquerque, NM

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Mrs. Natalie Voskresensky (RFC®), MBA
(505) 858-2443
2 Juniper Hill Rd NE
Albuquerque, NM
Company
PLAN RIGHT, LLC
Qualifications
Education: MBA, Accounting Concentration
Years of Experience: 13
Membership
IARFC
Services
Invoice, Business Planning, personal Coach, Retirement Planning, Tax Returns, Employee Benefits, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Auto Home Insurance, Asset Protection, LiabCover

Data Provided by:
Liberty Tax Service
(866) 871-1040
1009 Golf Course Rd Se # 104
Albuquerque, NM

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Electronic Transmissions
(505) 301-8932
2633 Bridge Boulevard Southwest
Albuquerque, NM
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Sun 07:00 AM-06:00 PM;Mon 07:00 AM-05:00 PM;Tue 07:00 AM-05:00 PM;Wed 07:00 AM-05:00 PM;Thu 07:00 AM

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Liberty Tax Service
(866) 871-1040
1112 San Pedro Dr Ne
Albuquerque, NM

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H&R Block
(505) 298-0591
12241 ACADEMY NE
ALBUQUERQUE, NM

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Tax Credit Consulting: Education Credits

Education Credits

There are two basic education credits available. They are the Hope Credit and the Lifetime Learning Credit.

The two Education Credits are the Hope Credit and the Lifetime Learning Credit. They are paid on expenses that are incurred by you or your spouse or your dependents. Only one of the two Credits may be taken on any individual student in any given Tax year. The actual amount of the credit is determined by using your qualified tuition and related expenses and considering the limitations based on your adjusted gross income (AGI).

Just about any expense that is required for your attendance is eligible for the credit. Room and board are not covered, nor is insurance or any type of expense for optional activities at school. Things like books and student activity fees are acceptable as long as they are required as a condition of the program that is required. The Credits are normally claimed on Form 8863 which gives the instructions and the limitations for claiming the Education Credit.

The Hope Credit applies only to qualified students in the first two years of an undergraduate program or similar type of vocational school. Usually, if the school qualifies to offer Federal Student Aid programs, it will be qualified for purposes of the Hope Credit. The Credit may only be taken during those two years, and can not be combined with the Lifetime Learning Credit. The Lifetime Learning Credit can be taken any number of years, not only in certain ones like the Hope Credit. The only requirement is that the program is leading to a certain job goal, or is for advancement within an already existing job field.

The credits are subject to limitations. They are designed to give a tax break to lower income students and their families. The assumption is that higher income families will have made other investment decisions to finance educational expense and would not need the tax relief as much. Regardless of the fairness of this policy, the Lifetime Lear...

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