12 Legal Ways to Reduce Your Tax Burden

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Benefit from a credit for higher education

Valuable tax credits are offered by the government to those who want to offset the cost of higher education. The credit is called the American Opportunity Tax Credit, and it can easily be claimed for the first four years of college. It provides a credit of $2,500 per student every single year, so if you’re a student, it’s time to get this credit.

The amount of money is actually deducted from the taxes you owe. So, if it exceeds that sum of money, up to $1,000 are refundable to you.

There’s a credit for educational expenses that boost your job skills, too. The credit is worth up to $2,000, and it’s a great way for most adults to improve their professional qualifications.

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