MICAH BYRD

Education-related tax benefits for 2022

💡Expense deduction rises to $300
The IRS reminds teachers and educators that as the new school year begins, they’ll be able to deduct up to $300 of out-of-pocket classroom expenses for 2022 when they file their federal income tax returns next year.

💡Find out who qualifies and what’s deductible.
College students should study two tax credits.

💡Higher education, including specialized job training and grad school, can be pricey. Eligible taxpayers who paid higher education costs for themselves, their spouse, or dependents in 2021 may be able to take advantage of two education tax credits. The American opportunity tax credit and the lifetime learning credit can help offset education costs by reducing the amount of tax they owe.

Click the link in the bio to schedule your Free Get Acquainted Call Today!