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Category: Tax Deductions and Credits (page 1 of 2)

What are Taxes on Scholarships or Grants?

Home » Tax Law » Tax Deductions & Credits » Taxes on Scholarships or Grants

As long as scholarships and grants are applied to tuition and course-related fees, books, and

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What are Tuition and Fees Tax Deductions?

Home » Tax Law » Tax Deductions & Credits » Tuition and Fees Tax Deduction

You may deduct up to $3,000 of qualifying higher education tuition and fees as long

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What is the Welfare-to-Work Tax Credit?

Home » Tax Law » Tax Deductions & Credits » Welfare-to-Work Tax Credit

The Welfare-to-Work Tax Credit is a federal income tax credit that encourages employers to hire long-term family

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What is the Work Opportunity Tax Credit?

Home » Tax Law » Tax Deductions & Credits » Work Opportunity Tax Credit

The Work Opportunity Tax Credit (WOTC) is a federal tax credit that encourages employers to hire

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What is the Hope Scholarship?

Home » Tax Law » Tax Deductions & Credits » Hope Scholarship

If you paid tuition and related expenses for a eligible student who, at the beginning of 2003, had

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What is the Lifetime Learning Credit?

Home » Tax Law » Tax Deductions & Credits » Lifetime Learning Credit

For academic expenses paid, you can claim a lifetime learning credit of up to $2,000 for the

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What is the Student Loan Interest Deduction?

Home » Tax Law » Tax Deductions & Credits » Student Loan Interest Deduction

If you paid student interest on a student loan in 2003, you can make a deduction

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What is the Child Tax Credit?

Home » Tax Law » Tax Deductions & Credits » Child Tax Credit

You can claim a $1,000 child tax credit for every qualifying child under the age of 17.

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What is the Earned Income Credit?

Home » Tax Law » Tax Deductions & Credits » Earned Income Credit

The earned income credit can be claimed by workers with qualifying children who meet certain income requirements.

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What is the Health Coverage Tax Credit?

Home » Tax Law » Tax Deductions & Credits » Health Coverage Tax Credit

The Health Coverage Tax Credit (HCTC) is a program that can help pay for nearly two-thirds

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