Education Tax Credits, Deductions & IRS Forms
Attend our massage school and save with 2011-2012 tax credits of up to $2500
CFMNH is the ONLY massage school in Asheville approved by the United States Department of Education as a Title IV school, which means you may be eligible to take advantage of significant tax credits when you attend our program.
Below is information on available 2011-2012 Tax Credits, as well as important forms and publications for completing your 2011 tax return.
Here are some key facts the IRS wants you to know about these valuable education credits:
1. The American Opportunity Credit
- The credit can be up to $2,500 per eligible student.
- It is available for the first four years of post-secondary education.
- Forty percent of the credit is refundable, which means that you may be able to receive up to $1,000, even if you owe no taxes.
- The student must be pursuing an undergraduate degree or other recognized educational credential.
- The student must be enrolled at least half time for at least one academic period.
- Qualified expenses include tuition and fees, coursed related books supplies and equipment.
- The full credit is generally available to eligible taxpayers who make less than $80,000 or $160,000 for married couples filing a joint return.
2. Lifetime Learning Credit
- The credit can be up to $2,000 per eligible student.
- It is available for all years of post secondary education and for courses to acquire or improve job skills.
- The maximum credited is limited to the amount of tax you must pay on your return.
- The student does not need to be pursuing a degree or other recognized education credential.
- Qualified expenses include tuition and fees, course related books, supplies and equipment.
- The full credit is generally available to eligible taxpayers who make less than $60,000 or $120,000 for married couples filing a joint return.
From the IRS: Eligible Educational Institutions:
An eligible educational institution is generally any accredited public, nonprofit, or proprietary (private) college, university, vocational school, or other post secondary institution. Also, the institution must be eligible to participate in a student aid program administered by the Department of Education. The Center for Massage & Natural Health meets these eligibility requirements.Links
Educational Tax Credits for 2011-2012 (American Opportunity and Lifetime Learning Credit)
IRS Form 8863: Education Credits (American Opportunity, Hope, and Lifetime Learning Credits) for your 2011 Tax Return
General Instructions on how to use Form 8863 to figure and claim your educational credits (American Opportunity and Lifetime Learning Credit)