American Opportunity Credit

Taxpayers often use the terms "deduction" and "credit" as though they're the same thing. They are not. They're actually very different terms, and being aware of the distinctions between the two can help you make good choices at tax time -- and maybe put some extra money back in your pocket. A...

Tax credits are popular ways to reduce your overall tax burden. Credits are dollar for dollar reductions in the amount of tax due, so it's a pretty big bang for your buck. Here are five of the most common tax credits: 1. Credit for Child and Dependent Care Expenses. The credit for child and...

Tax credits are popular ways to reduce your overall tax burden. Credits are dollar for dollar reductions in the amount of tax due, so it's a pretty big bang for your buck. Here are five of the most common tax credits: Credit for child and dependent care expenses. The credit for child and...

For anyone with a child in college, filing a tax return for 2009 should be a little less painful.While filing your taxes is the last thing you want to think of as the remaining free days of summer tick away, now is a good time to remind your college student to start saving book receipts and keep...