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Tax Corner- 2022 Tax Planning

March 15, 2022 | Weekly Commentary

Education Savings Plans
Parents with young children, are faced with many rewards and challenges. One of which may be saving for the high cost of a college education. However, there are two tax-favored options that might be beneficial: READ MORE

Education Tax Credits
There are two credits available to help taxpayers offset the costs of higher education. The American opportunity tax credit (AOTC) and the lifetime learning credit (LLC) may reduce the amount of income tax owed. Taxpayers who pay for higher education can see these tax savings when they file their tax returns next year. READ MORE