The Tax Benefits Of Real Estate Investing: Difference between revisions
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Latest revision as of 11:31, 22 September 2024
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Now, let's wait and watch if transfer pricing behavior whittle made that first move some a little more. How about using some relevant breaks? Since two of your youngsters are in college, let's think one costs you $15 thousand in tuition. Luckily tax credit called the Lifetime Learning Tax Credit -- worth up to two thousand dollars in situation. Also, your other child may qualify for something called the Hope Tax Credit of $1,500. Consult your tax professional for the most current tips on these two tax credit cards. But assuming you qualify, that will reduce your bottom line tax liability by $3500. Since you owed 3,000 dollars, your tax is now zero dollars.
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