DAVID S. BABOIAN, CPA, PC

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2/7/2016

February 07th, 2016

Read Now
 
TAX TIP OF THE DAY...  American Opportunity college credit

The American Opportunity credit is the best of all college tax breaks and provides up to $2,500 of additional refund.  You need the 1098-T tax form issued by the school to determine your eligibility.

Credit basics:
1) 1098-T... at least 1/2 time box must be checked
2) 1098-T... graduate degree box can not be checked
3) Adjusted gross income must be under $180k
4) you can use up to $4k of tuition, books and supplies not paid by scholarships
5) you must be claiming the student as a dependent on your tax return
6) you can use tuition paid by student loans.

SHARE WITH A FRIEND. 
If you need a tax appointment... www.baboiancpa.com

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  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYEE set up forms for new hires
      • EMPLOYER set up forms
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's band - Dance Fever
    • Haunted Chamber
    • Picture gallery
  • Secure email