Tax Benefits of Education

//Tax Benefits of Education
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Tax Benefits of Education

Over the years, there have been many tax laws enacted to benefit taxpayers seeking an education. Most of these laws relate to higher education or education after the typical K-12 schooling. The objective of this course is to explain and define the various education tax credits and tax deductions available to taxpayers that have education expenses and to cover tax-favored savings options that exist for taxpayers. This course will define terminology used in calculating these tax rules and will help the participant to understand how to plan for and maximize these tax opportunities.

Much of this course will focus on the two main credits currently available: The American Opportunity Credit and the Lifetime Learning Credit. Other topics include the Coverdell Education Savings Account, deductions for tuition and fees, student loan interest, savings plans for education, itemized deductions available for work-related education, employer-provided education, savings bonds for education and scholarships and fellowships.

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Product Description

Learning Objectives

  • Identify and understand key terms associated with educational tax credits and deductions
    • Qualified Education Expenses
    • Eligible Student
    • Eligible Educational Institution
  • Fully understand the tax benefits of, eligibility requirements for, and restrictions on:
    • American Opportunity Tax Credit
    • Lifetime Learning Credit
    • Qualified Tuition Programs
    • Coverdell Education Savings Account
    • Tuition and fees deduction
    • Student Loan Interest deduction
    • Other educational tax benefit opportunities
  • Coordinate different education benefits
  • Correctly report education benefits on the federal income tax return
  • Correctly report taxable income derived from restrictions to education benefits.

Publication Date: September 2018

IRS Course #: A360U-T-00095-18-S

Program Level: Beginner

Prerequisites/Advanced Preparation: Participants should be familiar with IRS Form 1040 and have a rudimentary knowledge of the tax code.

Delivery Method: QAS Self Study

License Term: 180 days

CPE/CE Credits: IRS 2 CE Federal Tax. One 50- minute period equals one CPE/CE Credit Hour.

Field of Study: Tax

Passing Grade: Participants who answer a minimum of 70% correct on the final exam will receive a Certificate of Completion.

Record Retention: As an IRS-approved provider of continuing education The Tax University will report successful completion of this course to the IRS.  You can access and view all completed continuing education credits through your online PTIN account.

Complaint Resolution Policy: Please contact our customer service department at 1-434-227-4480.

Refund Policy: 30-day money back guarantee.  For refund assistance, please contact our customer service department at 1-434-227-4480.

Price: $29

The Tax University Offers Substantial Discounts When You Purchase Multiple Courses! All Discounts Appear At The Bottom Of The Order Page When More Than One Course Is Selected.

Click Here To Order the CE Course Tax Benefits of Education

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