Take the American Opportunity Credit if you have children in undergraduate college.
Answer:
The American Opportunity Credit can save taxpayers as much as $2,500 per student with $1,000 of the credit being a refundable credit above and beyond the money paid.
Interested in more Five Last Minute Refund Tips Questions?
- Don't Overlook the value of the IRA deduction
- If you are self-employed, take advantage of an SEP plan
- Take the American Opportunity Credit if you have children in undergraduate college.
- Check to see if you have worthless stock or loans that are completely uncollectible
- If you itemize, don't forget the non-cash contribution deductions.
