Capturing Tax Credits for Higher Education

It’s looking like Fall in the Pacific Northwest. Are you looking ahead to the first 4 years of college?
Two education credits are available to taxpayers. The American Opportunity Credit and the Lifetime Learning Credit. They can’t be used together though. Only one education credit may be used for an individual student each year. If you’re looking ahead to college or just getting started, the American Opportunity Credit is available to help college students and their families pay for the first 4 years of college. Taxpayers can receive up to $2500 in tax credit per year per student. Learn more with SoundCPA Insights.