Business Tax Recovery Logo

Tax Credit Consulting: Hope Tax Credit Kahului HI

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

H&R Block
(808) 893-0100

Data Provided by:
JK Harris&Company Tax Representation Firm-Call Now
(800) 621-0536
330 Hoohana St. #202
Kahului, HI

Data Provided by:
H & R Block
(808) 877-4154
275 Kaahumanu Ave
Kahului, HI
Jmp Svc Inc
(808) 270-2710
811 Kolu St Ste 103
Wailuku, HI

Data Provided by:
Cheatham Jon B Cpa Llc
(808) 249-2720
2200 Main St Ste 504
Wailuku, HI
Courter Boeckmann & Associates LLC
(808) 871-1880
220 Lalo St Ste 201
Kahului, HI
Black Mark D
(808) 871-8822
135 S Wakea Ave Ste 202
Kahului, HI
Comte John M
(808) 244-8128
776 Analio St
Wailuku, HI
Beck Robert Tax And Bookkeeping Service Inc
(808) 242-1553
2070 W Vineyard St
Wailuku, HI
Makai Business Svc Corp
(808) 579-8111
Po Box 790299
Paia, HI

Data Provided by:
Data Provided by:

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...

Click here to read the rest of this article from