| Learning Library Quick Answers Tax Planning |
Answer: The education tax credits will only offset income taxes, but not employment taxes.....
Answer: The parents cannot take the deduction for interest on loans in the student's name even if they are making the payments. On....
Answer: Yes, as long as they are treated like an independent contractor. The child could take the American Opportunity/Lifetime Le....
Answer: Under current law, students are not required to pay social security (FICA) tax on wages they earn in jobs provided by the ....
Answer: On the parent's end, yes. If the parent's claim the exemption,they are the only ones that could claim the American Opportu....