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Tax Tip of the Week | No. 265 | Back-to-School Tax Tips
Most K-12 expenses are not deductible. This includes private school tuition and any required uniforms. For children under the age of 13, the cost of before or after school day care may qualify you for a tax credit.
Back to School on Education Credits - Tax Tip of the Week
For the last several years you have had the choice of using the Hope Education Credit, the Lifetime Learning Credit, or the Tuition and Fees Deduction to help defray higher education expenses.tn_educationFor 2009, the new American Opportunity Credit will replace the Hope Credit for most taxpayers. The new credit has several advantages over the Hope Credit.