DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Which Education Credit is Best for You?

Which Education Credit is Best for You?
The Lifetime Learning Credit (LLC) vs American Opportunity Credit (AOTC)

There are many tax benefits within the tax code to help pay for college expenses. Two of the most popular are the Lifetime Learning Credit (LLC) and the American Opportunity Tax Credit (AOTC). Not sure which is best? Here are some key differences:

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The Coverdell ESA. Lost in the mix?

The Coverdell ESA. Lost in the mix?

The tax code is filled with tax breaks to offset the cost of education. This includes programs like the Lifetime Learning Credit, the American Opportunity Credit, the Saver’s Credit, student loan interest deductibility, and the on-again off-again Tuition Deduction. Lost in all these options is the long-standing Coverdell Education Savings Account (ESA). Is it worth considering in your educational funding mix?

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College Tax Savings: 2014 EditionEvery little break helps


College Tax Savings: 2014 Edition
Every little break helps


With the start of school just around the corner, it is hard to ignore the high cost of funding a college education. Thankfully, there is some help within the tax code. Outlined here are three of the more popular ways to reduce your taxes in 2014 as a result of this educational expense burden.

Who Qualifies:

Typically you, your spouse, or a dependent who can be claimed as an exemption on your individual tax return

Qualified Expenses:

Tuition and fees, course-related books, supplies and equipment

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