Author Topic: How does tuition effect taxable income?  (Read 1478 times)

Murse

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How does tuition effect taxable income?
« on: July 23, 2016, 04:01:03 PM »
I'm looking at going to school for a bachelors and have been calculating how my pay will increase after taxes vs tuition. I need to know how (if at all) the tuition will affect taxes so I can have an apples to apples comparison.

forummm

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Re: How does tuition effect taxable income?
« Reply #1 on: July 23, 2016, 05:57:03 PM »
If you have to pay the tuition you can use one of the tuition credits or deductions. Look for Hope and Lifetime Learning. IIRC you can get a 20% credit for up to $10k/year in qualified expenses.

 

Wow, a phone plan for fifteen bucks!