Tag Archives: Scholarships

Advanced Placement (AP) Courses

Today TaxMama hears from Kevin in the TaxQuips Forum, with an interesting problem. “Many high school students are taking Advance Placement (AP) courses through an eligible educational institution as a means to earn college credits at an economical price. I was trying to find out if the costs of these courses are deductible as Tuition and […]

Lifetime of Education

Today TaxMama hears from Susan in the TaxQuips Forum with a quick question. “I am taking Career Step online transcription training. Can I receive the Lifetime Learning Credit?

Interns and Unemployment

Today TaxMama hears from John in the TaxQuips Forum, who wants to employ students.“ The business I work for is very small. It is a nonprofit educational facility, and we are swamped with work, without financial leverage to hire additional staff.  I want to recommend the hiring of interns at a fair hourly wage.  I am […]

IRS News – Is this Income Taxable?

While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. To ensure taxpayers are familiar with the difference between taxable and non-taxable income, the Internal Revenue Service offers these common examples of items that are not included in your […]

Tax Credit Helps Pay for Higher Education Expenses

The American Recovery and Reinvestment Act was passed in early 2009 and created the American Opportunity Credit. This educational tax credit – which expanded the existing Hope credit – helps parents and students pay for college and college-related expenses. Here are the top nine things the Internal Revenue Service wants you to know about this […]

Six Facts About the American Opportunity Tax Credit

Courtesy of the IRS Many parents and college students will be able to offset the cost of college over the next two years under the new American Opportunity Tax Credit. This tax credit is part of the American Recovery and Reinvestment Act of 2009. Here are six important facts the IRS wants you to know […]

Rotary Scholarship

Today TaxMama hears from Leah in New York with great news. “I’ve won a Rotary Scholarship and will study for a Masters degree in Italy beginning this fall. Is any or all of the scholarship taxable? The scholarship covers tuition as well as a room & board stipend, airfare, and tuition for a language school. […]