Education Series: Tax Deductions

While tuition costs are high and increases seem inevitable, there are ways to alleviate the financial burden. The IRS currently offers a number of incentives that can help you recoup some cash at tax time. Tax credits, as previously discussed, are directly reduce the amount of tax you owe, while a deduction reduces the amount of income on which your tax is calculated. On today’s show, Ralph talks about education expenses like tuition, student loan interest, supplies and others that you can use at tax filing to reduce your overall tax bill. Submit your questions or ideas for future shows, tweet us at @askralphmedia or email us at [email protected]. Like us on Facebook and follow us on Twitter (@askralphmedia) or visit www.askralphmedia.com for more information. To schedule a tax consultation with Ralph's team, contact him at 302-659-6560 or go to www.askralph.com for more information!Mentioned in this episode:Post roll for Book Becoming