Some student loan interest can reduce your taxable income even if you don’t itemize.

🎓 College Tax Fact 101: Education Can Lower Your Tax Bill

Here’s an important fact for students and parents: College expenses can give you powerful tax breaks — if you claim them the right way.

The IRS offers valuable credits like the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) that can help offset tuition, fees, books, and other qualifying costs. But each credit has its own rules, income limits, and paperwork — and many people miss out!

✅ Want to make sure you’re getting every education credit you deserve? Let’s check together!

📚 What Education Tax Credits Can You Claim?

American Opportunity Tax Credit (AOTC):
✔️ Worth up to $2,500 per eligible student, per year
✔️ Covers tuition, books, and supplies
✔️ Available for the first 4 years of higher education

Lifetime Learning Credit (LLC):
✔️ Worth up to $2,000 per tax return, per year
✔️ Covers undergraduate, graduate, or professional courses
✔️ No limit on the number of years you can claim

✅ Don’t Overlook Deductions, Either

Besides credits, you may be able to:
✔️ Deduct student loan interest (up to $2,500)
✔️ Use 529 plan distributions tax-free for qualified expenses
✔️ Claim deductions if you’re self-employed and going back to school

👉 Not sure what applies to you? Book your free education tax checkup here!

⚠️ Common College Tax Mistakes

❌ Claiming the same expenses for multiple credits (the IRS doesn’t allow double dipping!)
❌ Forgetting to claim credits for dependents in college
❌ Earning too much to qualify, but not planning ahead
❌ Missing the student loan interest deduction on past returns

If you made a mistake, you might be able to file an amendment and get money back.

✅ Ask us how to fix past returns and get the credits you missed!

🎓 College Is Expensive — Don’t Overpay on Taxes

At Acceptance Tax & Accounting, we help students and families:
✔️ Claim every eligible credit and deduction
✔️ Avoid costly filing mistakes
✔️ Fix old tax returns if needed
✔️ Plan ahead for next year’s college expenses

📞 Click here to book your College Tax Credit Review today!

Education is an investment — let’s make sure you get the maximum return. File smarter with us today!