Start Planning Early.
Waiting too long to determine which tax breaks are available can cause you to miss out. You must have been enrolled at least half time for one or more academic sessions in the past year—so you may want to plan ahead.
Waiting too long to determine which tax breaks are available can cause you to miss out. You must have been enrolled at least half time for one or more academic sessions in the past year—so you may want to plan ahead.
The tax break has no value if there is no tax liability, which is often the case for low-income households. Also, for tax deductions and exclusions (unlike credits), the tax break is worth more for higher-income households.
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