Do you have kids in college or are you in school yourself? You may be eligible for an education tax break. The American Opportunity Tax Credit (AOTC) covers 100% of the first $2,000 of tuition and eligible expenses, and 25% of the next $2,000 of expenses. With the AOTC, you can claim up to $2,500 per year, per student for the first four years of postsecondary education so long as students are pursuing a degree or other credential. If you’re paying postsecondary education expenses beyond the first four years, you may benefit from the Lifetime Learning Credit, which is worth up to $2,000 per tax return. Income-based phaseouts apply to both credits. To learn more: https://bit.ly/3yIl73N. Contact us with questions. © 2024