Tax season is here and if you’re dreading April 15th, this news might brighten your spirits. Congress has resurrected tax provisions that expired on December 31, 2017. In what has become much too common practice, Congress resurrected the dead provisions retroactively to January 1, 2018. Goody, goody! You can amend your 2018 tax returns to claim the deductions.
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Don’t kiss your tax benefits goodbye. This article simplifies the choice paradox by first addressing two of the 11 possibilities for education tax benefits and then taking the complexity out of them.
Once you see the rules simplified and the easy methods for planning your income so that you qualify for the tax benefits, you are going to smile. In fact, you may feel like you defeated those lawmakers who tried to paralyze you with choices.
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