Posts Taged children

Off campus housing-fun AND deductible!

Tempted to use off-campus housing instead of the dorms?  Sure you can!!!!  Although some colleges have rules regarding students staying on campus, many times it is allowable to stay off campus.  You CAN deduct this cost as a qualified higher education expense when taking distributions from a Qualified Tuition Program, aka 529 plan. Among other […]

Continue Reading

EITC-The louder the house the higher the credit?

The Earned Income Tax Credit…… So, it depends…..got kids? If not, you may still qualify for a small amount. But the large dollars go to those with kids…..you get one amount for having one child and another, larger amount, for having 3 or more kids.  10 kids doesn’t get you anymore EITC than 3 kids, it just […]

Continue Reading

Save for College AND Save on Taxes

Time flies!  We all know that.  One day you’re changing a diaper and the next you are buying a mini refrigerator for the dorm room.  Make paying for that dorm room a bit less painful. The earlier you start setting aside money for college the better.  Putting away money from day 1 of your child’s […]

Continue Reading