CPE: 2 hours
Prerequisites: Basic tax knowledge.
Advanced prep: None
Who should attend: CPAs, CFPs, lawyers and personal financial planners.
With a variety of ways to fund college, one area your clients may not be familiar with is educational tax benefits, which can benefit every client. We'll look at each of these benefits to see who can use them and when; review case studies with different strategies and what their impact financial aid; and learn which of these benefits are scheduled to expire in the near future and how that will affect college costs.
- Identify the deductions, credits and tax advantage saving programs available to families and students.
- Determine when and when not to use these educational tax benefits.
- Determine how scholarships impact tax benefits.
- American Opportunity Tax Credit
- Life Time Learning Credit
- 529 plans
- Coverdell Education Savings Account
- U.S. Savings Bonds
- Student loan interest deduction
- IRA withdrawals for education