Monday, March 2, 2009

Write Off Textbooks



posted by Shu Zheng

(College Finance 101) Approximately $300 billion of Obama’s $789 billion stimulus bill will consist of tax cuts, and a large portion of that $300B will benefit college students. Enjoy writing off your textbooks, among other things!

Education Credit - HOPE now called “The American Opportunity Tax Credit“
The HOPE scholarship credit has changed a bit. Instead of being able to take the credit for the first two years of college, you can now take the credit for your first four years of college. Instead of being able to take a credit of $1,800, you will be able to take a credit of $2,500, and this amount includes course materials (instead of just qualified tuition expenses). You can now write off your textbooks, dollar for dollar. The bill renames the HOPE credit the “American Opportunity Tax Credit”, and Obama made 40% of it refundable.

A refundable credit means you will get money back even if you don’t owe any tax.

Non-Refundable credit: You owe $500 and get a credit of $600, you now owe zero dollars.

Click to read more

4 comments:

  1. I have been visiting various blogs for my Essay writing research. I have found your blog to be quite useful. Keep updating your blog with valuable information... Regards

    ReplyDelete
  2. Hi there i am kаvіn, its my firѕt
    time to commenting anywhere, when i read this articlе i thought i сοuld also cгeate comment due
    tо this good piece of ωrіting.

    Take a look at my blog - Any Driver Car Insurance

    ReplyDelete
  3. I ԁon't even know how I ended up here, but I thought this post was great. I do not know who you are but definitely you are going to a famous blogger if you aren't already ;) Cheers!


    my ωebsite - One Day Car Insurance

    ReplyDelete
  4. Please let me know if you're looking for a article author for your blog. You have some really great articles and I feel I would be a good asset. If you ever want to take some of the load off, I'ԁ аbsolutely love to write some material for your blоg
    in eхchаnge for а link back to mine.

    Pleаsе ѕend mе an e-mail if іnterested.
    Thanks!

    My ωeb ρage; Import car insurance

    ReplyDelete