Wednesday, June 9, 2010
Tax Law Changes with Regard to Educational Incentivies
After reading the information on the IRS website, I felt slightly more informed but was also slightly confused. There are so many different credits and deductions and rules and regulations it can be difficult to sort through it all and find out what I would and would not qualify for. I've been very blessed almost my entire undergraduate education has been paid for through grants. So, these changes do not effect my decision to continuing my undergraduate education. However, as I prepare to enter gradute school next semester, and my grant funding will end, these new educational incentives are encouraging. Graduate school is more expensive than undergraduate school in the first place, so knowing at the end of the year I may be eligible for education tax credits, gives me reassurance about my decision to attend grad school. Overall, I think the education incentives are a great idea, and it is nice to see that new regulations are coming out to help and encourage students to further their education.
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Looking at all of the options available can seem overwhelming and confusing. I have been doing my own taxes since I graduated from high school. What feels like a grueling, time consuming activity once a year is also an informative education in tax laws and how the times have changed economically. Once your going through all of the information and your calculating the numbers to see what your options are, then you'll know what the best choice. It is definately encouraging that the government is providing these tax credits to encourage further education.
ReplyDeleteAfter looking at the IRS website, I was also a bit confused and overwhelmed. It is encouraging knowing that the government is providing tax credits and I do believe if more people were aware, they would further their education.
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