College can be very expensive. To help students and their parents, the IRS offers the following five ways to offset education costs. The American Opportunity Credit This credit can help parents and students pay part of the cost of the first four years of college. The American Recovery and Reinvestment Act modifies the existing Hope Credit […]
Category: Citizens and Residents
Capital Gains and Losses Explained
What is a capital asset? Almost everything you own and use for personal purposes, pleasure or investment is a capital asset. Examples include a home, personal use items like household furnishings, stocks or bonds, collectibles held as investments. How are capital gains and losses calculated? When you sell a capital asset, the difference between the […]