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Tax Deduction Consulting: Education Tax Deductions Wilmington DE

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.

Frank M. Levy (RFC®), CHFC, CLU
(302) 765-3500
205 Philadelphia Pike
Wilmington, DE
Company
Diversified Financial Consultants
Qualifications
Years of Experience: 34
Membership
IARFC, MDRT
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
Joan L. Sharp (RFC®), CFP, CHFC, MSFS
(302) 324-5363
42 Reads Way
New Castle, DE
Company
Life Strategies, LLC
Qualifications
Education: BAMSFS
Years of Experience: 8
Membership
IARFC, FPA, SFSP
Services
Invoice, Estate Planning, Retirement Planning, Tax Planning, Charitable Planning, Asset Protection, Compensation Plans

Data Provided by:
Colbert Ball Tax Ser
(302) 543-4631
800 Vandever Ave
Wilmington, DE
 
Delaware Taxes Today
(302) 888-1976
712 N Market St
Wilmington, DE
 
Greenbank Tax Service
(302) 995-0923
210 W Market St
Wilmington, DE
 
Bill Curry
1521 Concord Pike
Wilmington, DE
Company
Company: Curry Poole Group, LLC
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
BS
MBA
JD
Years Experience
Years Experience: 42
Service
Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Medicare Planning,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Portfolio Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Life Insurance,Investment & Portfolio Man

Data Provided by:
Keith Al-Chokhachy, Certified Financial Planner(tm)
2751 Centerville Road
Wilmington, DE
Company
Title: Certified Financial Planner"
Company: Morgan Stanley Smith Barney
Years Experience
Years Experience: 8
Service
Captive Insurance,Life Settlements,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rol

Data Provided by:
Fast Tax Delaware
(302) 427-2844
725 N Market St
Wilmington, DE
 
Delaware Taxes Today
(302) 654-4848
712 N Market St
Wilmington, DE
 
Eller Tax Service
(302) 656-4787
2303 Lancaster Ave
Wilmington, DE
 
Data Provided by:

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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