The American Opportunity Credit is a credit for post-secondary costs applied to decrease the taxes owed by a student, their spouse, and/or a dependent. The credit is designed to help qualifying low to moderate income persons cover the significant fees related to post-secondary education.
An introduction to the standard and itemized deductions that all taxpayers should know, as well as the established rates for 2022 and 2023.
An introduction to income tax brackets that all taxpayers should know, as well as the established rates for 2022 and 2023.
Qualifying medical expenses paid out of pocket can be deducted on taxes for taxpayers who itemize their deductions. With dozens of potential expenses to consider, we offer a starting point in the checklist below. Here, you will find some of the most commonly identified expenses as listed in the IRS Publication 502.