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Tax Deduction Consulting: Education Tax Deductions Buckhannon WV

For parents, the IRS offers many tax breaks and deductions to those who are funding the costs of higher education. Tuition, fees, and costs of books may be used as a deduction when filing taxes. As long as these costs aren't paid for with tax-free income, you can use them as education expense deductions to reduce your adjusted gross income and taxes due. Costs of work-related education can also be used in deductions.

Mr. Gregory R. Metcalf (RFC®), RFP
(307) 723-5018
200 Ivy St
Weirton, WV
Company
Horizon Financial Group
Qualifications
Education: Ohio University, BBA FinanceCollege for Financial Planning's CFP Certification Professional Education Program
Years of Experience: 15
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection

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H&R Block
(304) 229-0317
372 Middleway Pike Ste E
Inwood, WV

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Liberty Tax Service
(866) 871-1040
3559 Robert C Byrd Dr
Beckley, WV

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H&R Block Inside Sears At Grand Central Mall
(304) 485-4749
500 GRAND CENTRAL AVE
VIENNA, WV

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H&R Block
(304) 538-3243
116 S MAIN ST STE 2
MOOREFIELD, WV

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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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H&R Block Inside Princeton Shopping Center
(304) 487-1465
1101 STAFFORD DR
PRINCETON, WV

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H&R Block
(304) 256-6521
1330 N EISENHOWER DR
BECKLEY, WV

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H&R Block
(304) 799-6417
221 8TH ST
MARLINTON, WV

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Liberty Tax Service
(866) 871-1040
2001 Stadium Dr
Bluefield, WV

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Tax Deduction Consulting: Education Tax Deductions

Education Tax Deductions

It is hard to dispute that the cost of education is simply frightening. The manipulation of education tax deductions can relieve some of the fear.

Education Tax Deductions

Students and parents alike fear the day when it comes time to head off to college. Okay, heading off to college can be a very exciting time for both students and parents. It is the cost of doing so, however, that can have parents breaking out the vodka and aspirin. Given the breakneck pace by which education expenses are growing, the powers that be have placed some hidden education tax deductions in the internal revenue code.

For parents, the IRS offers many tax breaks and deductions to those who are funding the costs of higher education. Tuition, fees, and costs of books may be used as a deduction when filing taxes. As long as these costs aren't paid for with tax-free income, you can use them as education expense deductions to reduce your adjusted gross income and taxes due. Costs of work-related education can also be used in deductions.

For students, student loans often represent the only way to get a higher education. While the balances and payments can be scary, there is some relief. As long as you are not making serious money directly out of school, and who is, you can deduct some if not all of the interest payments made on the loans. This is similar to deducting the interest payments made on home loans.

In addition to deductions, there are also many forms of tax-free benefits. For instance, scholarships received that are used towards the expenses of higher education are considered tax-free. Grants and other distributions from state, federal, or institutional programs also used towards tuition, fees, and other forms of college expenses are considered tax-free as well. Nothing is finer than a grant or scholarship. They are also plentiful if you know where to look. Organization such as churches, community groups and even the government issue them each and ...

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