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Education Tax Benefits

Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

Today taxpayers must plan for their children’s education. Touching on various topics such as qualified tuition programs (QTPs), scholarships and fellowships, this mini-course examines the tax treatment of costs related to education. Practitioners will learn the ins and outs of the tax benefits concerning education and will be able to identify those educational expenses that are deductible. Additionally, financial planning strategies and techniques are outlined to better prepare taxpayers for future educational costs.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify deductible education expenses and travel costs under the requirements of §162.
  • Determine the qualified credit amounts under the HOPE (“American Opportunity”) Credit and the requirements of Coverdell education savings accounts.
  • Identify the deductible amount to claim for §221 student loan interest and recognize the permissible benefits of §529 qualified tuition programs.
  • Specify the tax-free benefits of §117 scholarships and fellowships and who is eligible for a §132 qualified tuition reduction.
  • Identify educational incentives and financial aid requirements to meet college funding needs.

Course Specifics

Course ID
8202689
Revision Date
February 18, 2022
Number of Pages
65
Prerequisites

General understanding of federal income taxation.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02151-22-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1708
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Education Tax Benefits

Expert Instructors
CPE CREDITS
2 Credits: Taxes

$58.00$78.00

Clear
Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

Today taxpayers must plan for their children’s education. Touching on various topics such as qualified tuition programs (QTPs), scholarships and fellowships, this mini-course examines the tax treatment of costs related to education. Practitioners will learn the ins and outs of the tax benefits concerning education and will be able to identify those educational expenses that are deductible. Additionally, financial planning strategies and techniques are outlined to better prepare taxpayers for future educational costs.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify deductible education expenses and travel costs under the requirements of §162.
  • Determine the qualified credit amounts under the HOPE (“American Opportunity”) Credit and the requirements of Coverdell education savings accounts.
  • Identify the deductible amount to claim for §221 student loan interest and recognize the permissible benefits of §529 qualified tuition programs.
  • Specify the tax-free benefits of §117 scholarships and fellowships and who is eligible for a §132 qualified tuition reduction.
  • Identify educational incentives and financial aid requirements to meet college funding needs.

Course Specifics

Course ID
8202689
Revision Date
February 18, 2022
Number of Pages
65
Prerequisites

General understanding of federal income taxation.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02151-22-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1708
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Education Tax Benefits

Expert Instructors
CPE CREDITS
2 Credits: Taxes

$58.00$78.00

Clear