9 Ways to Get Huge Tax Credits
7) Get a Post-Secondary Education
Similar to the American Opportunity Tax Credit, the Lifetime Learning Credit applies to individual tax payers who are in pursuit of a post-secondary education and meet all requirements. Unlike the American Opportunity Tax Credit, the Lifetime Learning Credit does not have a cap on the number of years one can claim it, just as long as they are continuing to earn an education in undergraduate or graduate courses at an accredited university, professional degree programs, or any other courses designed to enhance your career or skills within the job industry. In order to receive the Lifetime Learning Credit, qualified individuals must be a student in pursuit of education, have a dependent who is seeking the education, and be paying for educational expenses accrued by either you or the qualified party. Receivers of this particular credit are not required to be participating in courses full-time, however they must have been enrolled in some form of eligible academic program at the start of the correlating tax year.
