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Management Tips: Spend with Care |
Parents, if your child is about to enter college, chances are you are concerned about how they will manage their finances when they are out in the real world. Here are a few tips to pass along to your college-aged children:
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IRS Tax Tip 2007-48
Education tax credits can help offset the costs of higher education for yourself or a dependent. The Hope Credit and the Lifetime Learning Credit are two education credits available which may benefit you. Because they are credits, rather than deductions, you may be able to subtract them in full dollar for dollar from your federal income tax.
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