Colleges, universities, and trade schools will soon reopen. Whatever form a school takes, higher education is expensive. But the good news is, taxpayers, their spouses, or dependents who take post-high school coursework in 2021 may qualify for one of two tax credits that can reduce their tax bills. The American Opportunity Tax Credit is worth up to $2,500 per eligible student, for the first four years at an eligible school, if certain conditions are met. The Lifetime Learning Credit tops out at $2,000 per tax return, for any number of students and any number of years. Do you qualify for either credit? Use this tool to find out or learn more here. For questions, reach out to Cg. © 2021
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