Luckily, the US government provides a variety of tax breaks for college students or parents through tax credits, tuition, and fees deduction, and tax-free savings account.
To understand how you might take advantage of these tax deductions, we’ve gathered 7 tax deductions and credits you should know to save the most money on your bill for the tax year.
It might seem odd to start with retirement when you’re just starting on your career journey or only have a weekend job, but this is a valuable tax deduction.
If you pay your way for college including tuition & other qualified higher education expenses, you may have the ability to claim the American Opportunity tax credit.
If you aren’t claimed as a dependent on someone’s tax return, and you didn’t receive a check, you could claim the Recovery Rebate Tax Credit on your return.