|Author :||Danny C Santucci, JD|
|CPE Credits :||2.0|
|IRS Credits :||2|
|Passing Score :||70%|
|Primary Subject-Field Of Study:||
Taxes - Taxation for Course Id 374
Today taxpayers must plan for their childrens education. Touching on various topics such as qualified tuition programs (QTPs), scholarships and fellowships, this mini-course examines the tax treatment of costs related to education. Practitioners will learn the ins and outs of the tax benefits concerning education and will be able to identify those educational expenses that are deductible. Additionally, financial planning strategies and techniques are outlined to better prepare taxpayers for future educational costs.
|Usage Rank :||0|
|Prerequisites :||General understanding of federal income taxation.|
|Experience Level :||Overview|
|Additional Contents :||Complete, no additional material needed.|
|Additional Links :|
|Advance Preparation :||None.|
|Delivery Method :||Self-Study.|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||12-Feb-2016|
|NASBA Course Declaration :||Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.|
|Approved Audience :||
NASBA QAS - NASBA Registry - IRS Enrolled Agents - 374
|Keywords :||Taxes, Education, Tax, Benefits, Mini, Course, cpe, cpa, online course|
|Learning Objectives :||
As a result of studying the assigned materials, you should be able to meet the objectives listed below.ASSIGNMENT
At the start of the materials, participants should identify the following topics for study:
* Educational expense credits
* Education savings accounts
* Deduction for student loan interest
* Qualified tuition programs
* Higher education expense deduction
* IRA withdrawals for education expenses
* Scholarships & fellowships
* Educational savings bonds
* Educational incentives & financial aid
After reading the materials, participants will be able to:
2. Determine the qualified credit amounts under the HOPE (“American Opportunity”) Credit and the requirements of Coverdell education savings accounts.
3. Identify the deductible amount to be claim for §221 student loan interest and recognize the permissible benefits of §529 qualified tuition programs.
4. Specify the tax-free benefits of §117 scholarships and fellowships and who is eligible for a §132 qualified tuition reduction.
5. Identify educational incentives and financial aid requirements to meet college funding needs.
|Course Contents :||