College Tax Breaks and Tips for Filing
It’s December! As you round up your end-of-year to-dos, we want to share with you a few college related tips to consider while planning your 2018 tax filing. Be sure to check with your tax professional to confirm whether any of these tips apply to your tax situation.
College Tax Breaks
Are you making the most of possible tax breaks before, while and after your kids are in college? Depending on where your student is in their educational career, there may be strategies you should be implementing to minimize taxes during these expensive years.
Do College Students Need to File Taxes?
Make Your Tax Season Easier
Happy Holidays from all of us at Westface College Planning!
Tips for Parents of Seniors
How to Make the Most of Your College Tax Breaks
By Gail MarksJarvis Reuters • Published on STL Today
All that tuition you pay has one silver lining: tax breaks.
If you want to make sure to be able to claim the most possible when your tax return is due in April, then you may want to make some moves now to prepay some bills or to max out your retirement accounts to lower your income.
If you have young kids
Federal tax law changes this year let families use up to $10,000 per year from a 529 college savings plan to pay private school tuition. But beware: Not all states mimic the new federal rules, and you could be hit with state tax penalties or have to pay back past state deductions or credits.
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January 10th 2018 • 6pm – 7pm
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In College News
Tax Filing Tips for College Students
By Susannah Snider • Published on U.S. News & Word Report
Filing taxes as a college student comes with a unique set of challenges. And determining whether and how to file taxes requires taking note of your previous year’s employment, wages, tax withholding and parents’ tax strategies. You may want to use the upcoming Thanksgiving holiday or winter break from school as opportunities to bring up a few tax questions with Mom and Dad.
Here’s what college students should know about filing taxes.
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