Grants and scholarships can be need-based or merit-based. Need-based aid is awarded to students who demonstrate financial need, typically determined by a family’s income and assets. Merit-based aid, on the other hand, is awarded based on academic or extracurricular achievements,...
You can't claim the Lifetime Learning credit if you pay college expenses for someone who isn't your dependent, and you can't claim it if you'remarried but filing a separate tax return. Non-resident aliens can't claim the credit if they don't elect to be treated as resident aliens for...
Explore scholarships and grants specific to your field of study or background. Consider federal student loans as a last resort and research repayment options thoroughly. Remember, appealing for more financial aid is your right. By presenting a well-documented case and being professional, you increase...
If your financial aid appeal is not approved, you can explore other ways to pay for college. If you haven’t done so already, apply for as many scholarships as possible. Claim the American Opportunity Tax Credit (AOTC) or other education tax breaks. You may also consider borrowing aprivate...
The general objective is to help taxpayers avoid double taxation on foreign income. Taxpayers can deduct the foreign income tax they paid or claim those taxes as a foreign tax credit. What follows is a general overview of ...
Unlike co-borrowers, who are on the title or have some claim to the property or funds, co-signers have no title or ownership of the property the funds are used for. For example, a co-signer for a vehicle has no legal right to the financed vehicle. ...
If you want to cut your federal income tax bill, you need to understand what’s included in your taxable income.
of your paid work or income is done in the United States. It may have been done partly in the United States and partly in a foreign country, so it is important to determine the amount of U.S. source income using the method that most correctly shows the proper source of your income. ...
Provide grants only to other nonprofits although it's possible to make grants to individuals under some circumstances such as for educational scholarships3 Pay a 1% to 2% excise tax on the organization’s net investment income4 Should You Start a Private Foundation? You might be wondering if ...
Adjusted gross income or AGI is your total income minus deductions you're eligible to take or "adjustments to income," as the IRS calls them. Gross income includes wages, dividends, capital gains, retirement income, and rents. Deductions might include self-employed health insurance premiums, stud...