Playbook Logo

Client Login

Click to toggle search bar

Higher Education Tax Credits

Our Latest Insights

Caroline Alvarado
March 5th, 2019

The tax strategy discussed in this month's Journal of Accountancy article can maximize the net tax benefit from higher education credits. The articles dives into the types of qualified scholarships and grants that can be used in this strategy which are:

1. The scholarship or fellowship grant must qualify as tax-free under Sec. 117(b)(1)

2. The terms of the scholarship or grant must allow it to be applied to nonqualified expenses. 

In addition, they discuss qualified tutition and related expenses, nonqualified education expenses, and four examples that you can follow along with.

Click here to read the full article: https://www.journalofaccountancy.com/issues/2019/mar/education-tax-credits.html

Contact The Green Group today at 732-534-6100 to see if you can apply this strategy to your tax return! 

Share This:

Facebook Tweet LinkdIn

Related Insights

The changes made to tax reform legislation that were enacted in December 2017 are having a significant impact on taxpayers today.

Caroline Alvarado
6/12/19

This Thursday, March 28th the IRS is providing a free online webinar for taxpayers and partners to review their tax withholding and basics on how to use...

Caroline Alvarado
3/25/19

The New Jersey Tax Amnesty Program begins November 15, 2018.

Caroline Alvarado
11/14/18
Taxonomy: 
Image: 

The tax strategy discussed in this month's Journal of Accountancy article can maximize the net tax benefit from higher education credits. The articles dives into the types of qualified scholarships and grants that can be used in this strategy which are:

1. The scholarship or fellowship grant must qualify as tax-free under Sec. 117(b)(1)

2. The terms of the scholarship or grant must allow it to be applied to nonqualified expenses. 

In addition, they discuss qualified tutition and related expenses, nonqualified education expenses, and four examples that you can follow along with.

Click here to read the full article: https://www.journalofaccountancy.com/issues/2019/mar/education-tax-credits.html

Contact The Green Group today at 732-534-6100 to see if you can apply this strategy to your tax return!