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Maximizing Tax Incentives for Post-Secondary Education Expenses (MLC641H)

  Pre Recorded Webinar
  60 minutes
  
Multiple Participants?
Call 1-800-223-8720
for a group pricing

How does saving a good chunk of your hard earned money from educational tax incentives sound to you?

 If you have already adjusted your position reading the above line, there is more you would like to read. This seminar offers you a primer on various educational tax benefits, helping you learn how you can benefit from a lot of your hard-earned money that can be saved each year from educational tax incentives. Also, get a heads up on exactly how you can minimize your tax expense by taking advantage of these incentives. There are various provisions that can be as difficult as profitable for you and you can definitely compare and contrast them.

This seminar would serve as an effective technical reference guide to every taxpayer and tax preparer and provide numerous examples on tax planning tips as well.

While at all this, learn a variety of definitions, qualifications and limitations for a lot of deductions and credits that you may have to face. These deductions and credits may be limited to education expenses of taxpayers unlike other cases which include expenses from taxpayer’s spouse and/or dependants. There are also various kinds of incentives that yield to different types of benefits. For instance, tax credits generate a dollar-for-dollar reduction in the taxpayer’s overall tax liability and possibly a refund, while tax deductions reduce the taxpayer’s taxable income, so the ultimate benefit is dependent on the taxpayer’s tax liability and marginal tax rate. Three detailed case studies will be discussed which would illustrate how to maximize various tax incentives.

You will learn that you as a taxpayer cannot benefit from all the provisions simultaneously as tax deductions and credits are mutually exclusive. Also, you cannot claim both deduction and credit for the same expense. This may change your tax each year depending upon your income and marginal tax rate.

We will have expert speaker Cherie Hennig, Ph.D. explain us on the all this including deductions related to education expenses and tax credits related to education expenses. Cherie would take up deductions covering the topics of tuition and fees deduction as well as work-related education expenses deduction. She will efficiently move to tax credits where she would explain about the American Opportunity Credit (AOC) that replaced the Hope Credit for tax years after 2008 as well as the Lifetime Learning Credit (LLC).

Training Objective:

Who Should Attend:

All Professionals including:

 

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Presenter

Cherie Hennig, Ph.D., is the author of the treatise, Practical Guide to Schedule M-3 Compliance, 2nd edition, published by CCH,  Contemporary Tax Practice, 3rd edition, published by CCH, and numerous articles on Schedule M-3 and Schedule UTP compliance which have appeared in The Tax Advisor, Ta... More info

 


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