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A $2,000 credit is available for qualified expenses paid for post-secondary degree programs or for a non-degree program to acquire or improve job skills.
It is not limited to the first 4 years of postsecondary education.
Qualified expenses include tuition, course related books, activity fees and any equipment that must be purchased from the educational institution as a condition of enrollment. Room & Board expenses do not qualify.
The modified adjusted gross income threshold at which the lifetime learning credit begins to phase out is $107,000 for joint filers, up from $104,000, and $53,000 for singles and heads of household, up from $52,000.

A $2,000 credit is available for qualified expenses paid for post-secondary degree programs or for a non-degree program to acquire or improve job skills.
It is not limited to the first 4 years of postsecondary education.
Qualified expenses include tuition, course related books, activity fees and any equipment that must be purchased from the educational institution as a condition of enrollment. Room & Board expenses do not qualify.
The modified adjusted gross income threshold at which the lifetime learning credit phase out is $107,000- $127,000 for joint filers, up from $104,000-$124,000, and $53,000-$63,000 for singles and heads of household, up from $52,000-$62,000.

The $2,500 maximum deduction for interest paid on student loans begins to phase out for a married taxpayers filing a joint returns at $125,000 and phases out completely at $155,000,
For single taxpayers, the phase out is $60,000-$75,000.

The $2,500 maximum deduction for interest paid on student loans begins to phase out for a married taxpayers filing a joint returns at $125,000 and phases out completely at $155,000,
For single taxpayers, the phase out ranges between $60,000 and $75,000.

Lower Capital Gains and Dividend Tax Rates Extended Through 2012.
The tax rate reductions for long-term capital gains remain in effect for 2011 and 2012.
If tax bracket = 10% or 15% the Short Term CG taxed at ordinary rates
Long Term CG and Qualifing Dividends tax rate = 0%
If tax bracket = greater than 15% the Short Term CG taxed at ordinary rates
Long Term CG and Qualifing Dividends tax rate = 15%

The credit of $1,000 per eligible child.

The credit of $1,000 per eligible child.

Beginning on January 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
56.5 cents per mile for business miles driven
24 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations

For tax year 2016, the maximum earned income tax credit (EITC) for low- and moderate- income workers and working families Maximum Credit Amounts The maximum amount of credit for Tax Year 2016 is: $6,269 with three or more qualifying children
$5,572 with two qualifying children,
$3,373 with one qualifying child
$506 with no qualifying children

Beginning on January 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
55.5 cents per mile for business miles driven
23 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
The rate for business miles driven is unchanged from the mid-year adjustment that became effective on July 1, 2011.
The medical and moving rate has been reduced by 0.5 cents per mile.