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Tax Credit Consulting: Hope Tax Credit Fairmont WV

When filing taxes, there are two main ways of saving money on your taxes returns. Read on.

Edwin Landis
60 West Street Suite 404
Annapolis, MD
Company
Title: Financial Consultant
Company: Landis Financial Services
Type
Investment Advisor Rep: Yes
Education
Michigan State University/ BA
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Stock Market Alternative,Medicaid,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Ind

Data Provided by:
H&R Block
(304) 366-3728
32 TYGART VALLEY MALL
WHITE HALL, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
103 N Pike St
Grafton, WV

Data Provided by:
Tax Tech
(304) 296-1040
990 Fairmont Rd Ste C
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
128 Emily Dr
Clarksburg, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
911 Country Club Rd
Fairmont, WV

Data Provided by:
H&R Block
(304) 265-2662
12 BLUE Ave
GRAFTON, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
827 Fairmont Rd
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
735 Chestnut Ridge Rd
Morgantown, WV

Data Provided by:
Harold D. Vealey (RFC®), CLU, LUTCF
(304) 346-2154
910 Chester Road
Charleston, WV
Company
Vealey Financial Services
Qualifications
Education: BA
Years of Experience: 43
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans

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Tax Credit Consulting: Hope Tax Credit

Hope Tax Credit

First off, the Hope tax credit does not refer to an optimistic view towards the amount of money you owe the IRS. Instead, we are talking college expenses.

Hope Tax Credit

If you want to see a father of two openly weep, just mention the cost of college. In all aspects, the costs are outrageous. In some areas, a four year college experience can cost more than a house. Of course, every parent wants their sons and daughters to get a college education, so what can you do? Well, the Hope tax credit is one step you should investigate.

When filing taxes, there are two main ways of saving money on your taxes returns. The first is by claiming deductions from your gross income, lowering the amount of taxable income and possibly even lowering yourself into a different tax bracket. The other method is to receive a tax credit, meaning the tax amount itself is reduced rather than the gross taxable income. Obviously, tax credits trump deductions in every instance.

The Hope tax credit is a tremendous idea, but it could be larger. Essentially, you are allowed to claim up to $1,500 as a tax credit for the first $2,000 spent on a college education during each of the first two years of attendance. The credit can be claimed if you are putting yourself or your spouse through college. It can also be claimed if you are putting a dependent through higher education, to wit, your son or daughter.

In practical terms, the Hope tax credit gives you a nice break on your taxes...

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