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Did you know? College Tuition

Did you know? College Tuition

Did you know you can pre-pay qualified college tuition expenses for the first three months of next year and take the credit for those expenses in the current year?

This may be a viable strategy where the amount paid toward tuition in the current year does not provide the maximum credit, such as in the first year of college attendance, when a student only has expenses for September through December. The tuition credits are subject to income phaseout.

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Lee Reams, BSME, EA

Lee Reams, BSME, EA

Editor-in-Chief

Besides his role at CountingWorks as an educator and speaker to thousands of accountants nationwide, Lee manages a technical research service for a large group of tax accountants which sharpens his technical skills. Lee served on the Board of Blackline Systems, is a former Board of Director for the California Tax Education Council, is a Past President of the San Fernando Valley Chapter of Enrolled Agents, Member and Past Director for the California Society of Enrolled Agents.

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