Save Money on Taxes with Education Credits! | Daily Tax Tip
In today's tax tip, Ralph explains two key education credits that could help you save money on your taxes: the American Opportunity Credit and the Lifetime Learning Credit. The American Opportunity Credit is for students in their first four years of college, offering up to $2500 with a portion refundable. The Lifetime Learning Credit provides up to $2000 for continuing education but is not refundable. Ralph also advises checking eligibility due to income limits and other requirements. For more info, visit ASKRALPH.COM. Don't forget to like and subscribe for more tax tips!
00:00 Introduction to Education Tax Credits
00:11 American Opportunity Credit Explained
00:24 Lifetime Learning Credit Overview
00:37 Eligibility and Additional Information
00:45 Conclusion and Call to Action
