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Contact Information Hours of Operation
Florida Financial Solutions Inc. 9am to 5pm Monday - Thursday
700 12th Street, NW, Suite 700
Washington, DC 20005
202-495-1961 phone
877-202-5748 e-fax
floridafinancialsolutions@hotmail.com
www.floridafinancialsolutions.webstarts.com
700 12th Street, NW, Suite 700
Washington, DC 20005
202-495-1961 phone
877-202-5748 e-fax
floridafinancialsolutions@hotmail.com
www.floridafinancialsolutions.webstarts.com
Tax Incentives for Higher Education
The tax code provides a variety of tax incentives for families who are saving for, or already paying, higher education costs or are repaying student loans.
You may be able to claim a Hope and Lifetime Learning Credit for the qualified tuition and related expenses of the students in your family (i.e., you, your spouse, or an eligible dependent) who are enrolled in eligible educational institutions. Different rules apply to each credit. If you claim a Hope Scholarship Credit for a particular student, none of that student's expenses for that year may be applied toward the Lifetime Learning Credit.
You may be able to claim a tuition deduction of up to $4,000 of qualified education expenses paid during the year for yourself, your spouse, or your dependent. You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. The qualified expenses must be for higher education.
If you are a student and have 4,000 in tuition, you may qualify for a 1,000 refundable education credit even if you do not have any income. Smaller amounts will result in a smaller refund.
You may be able to deduct interest you pay on a qualified student loan. And, if your student loan is canceled, you may not have to include any amount in income. The deduction is claimed as an adjustment to income so you do not need to itemize your deductions on Schedule A Form 1040.
The tax code provides a variety of tax incentives for families who are saving for, or already paying, higher education costs or are repaying student loans.
You may be able to claim a Hope and Lifetime Learning Credit for the qualified tuition and related expenses of the students in your family (i.e., you, your spouse, or an eligible dependent) who are enrolled in eligible educational institutions. Different rules apply to each credit. If you claim a Hope Scholarship Credit for a particular student, none of that student's expenses for that year may be applied toward the Lifetime Learning Credit.
You may be able to claim a tuition deduction of up to $4,000 of qualified education expenses paid during the year for yourself, your spouse, or your dependent. You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. The qualified expenses must be for higher education.
If you are a student and have 4,000 in tuition, you may qualify for a 1,000 refundable education credit even if you do not have any income. Smaller amounts will result in a smaller refund.
You may be able to deduct interest you pay on a qualified student loan. And, if your student loan is canceled, you may not have to include any amount in income. The deduction is claimed as an adjustment to income so you do not need to itemize your deductions on Schedule A Form 1040.
202-495-1961 phone
floridafinancialsolutions@hotmail.com
call for appointment
floridafinancialsolutions@hotmail.com
call for appointment