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It wouldn't be a very practical thing. Taxes aren't really many students problem. If one is a full time student they presumably don't have full time income, and hence, with limited earnings, won't have any (or much) tax to pay. However, tuition/educational costs for someone that is exclusively a full time student ARE NOT deductible from earnings they may have. (Costs to get an education to qualify for a field aren't deducible.) However, if you are in a field already (employed in a field, not a student in), and need to educate yourself to remain in the field, that is a deductible business cost. There are several credits, which may result in a much lower tax, like the Lifetime Learning and Hope credits available to those funding an education. Many aspects of funding an eductaion, saving for it, etc. do have very favorable tax programs. And certainly many social programs, some using public funds/facilities are established to benefit students too.
What else can I help you with?
What is a sentence for Tax break?
Charities receive a tax break.Most people believe churches should not be allowed to have a tax break.
Which tax is not considered as a direct tax?
For all my fellow students, the correct answer is SALES tax. :)
What is form 8917 used for?
Form 8917 is used for Tuition and Fees Deduction for many college students. You can read more at www.docstoc.com › Tax › Tax Forms Tax Form 8917 is for college students for tuition and fee's deduction. The form can be printed directly from the IRS website or mailed to you.
Do i have to file 1098-T on my income tax 2014?
Form 1098-T is the form where tuition is reported to students who may have paid tuition. You do use this to complete your tax return.
Does Virginia give you a tax break on your pension?
Yes, Virginia offers a tax break on certain pensions. Specifically, up to $12,000 of retirement income, including pensions, is exempt from state income tax for individuals aged 65 and older. Additionally, there may be other exemptions for specific types of retirement plans. It's advisable to consult with a tax professional or the Virginia Department of Taxation for personalized guidance.
What is the duration of Fulltime Killer?
The duration of Fulltime Killer is 1.7 hours.
When was Fulltime Killer created?
Fulltime Killer was created on 2001-08-03.
What is a sentence for Tax break?
Charities receive a tax break.Most people believe churches should not be allowed to have a tax break.
Which tax is not considered as a direct tax?
For all my fellow students, the correct answer is SALES tax. :)
Do students pay tax on their income?
Yes, students are generally required to pay tax on their income if it meets the threshold set by the government.
Do students have to file tax returns?
In general, students must file tax returns if they have earned income that meets the filing requirements set by the IRS.
Does an increase in the income tax rate increase the break even point?
No, an increase in the tax rate only affects a positive income; at break even there is no amount to tax
Is there a tax break on the Honda insight?
No
What a taxpayer hopes for?
A tax break
If we are building our home out of our savings no financing do we quality for the $8,000 tax break?
No the tax break is when you buy and you pay it back later anyway.
Do students have to file a tax return?
In general, students must file a tax return if they have earned income that meets the filing requirements set by the IRS. This includes income from jobs, internships, or scholarships that exceed certain thresholds. It's important for students to understand their individual tax situation and consult with a tax professional if needed.
do students get tax breaks and are they big tax breaks?
Students are eligible for education tax credits which can help cover some of the costs associated with being a student. There are two types of education tax credits: Hope Credit Extended and Lifetime Learning Credits.
