Tax Day, April 15th, is quickly approaching, and parents of college students may be eligible for a tax credit worth thousands of dollars.
If parents claim their college students as dependents, they may be eligible to claim the American Opportunity Tax Credit for the first four years of postsecondary education.
“If you have a dependent that’s in college and if they have at least $4,000 in expenses, you can get up to $2,500 as a tax credit for four years,” Jon Gustafson with Venn Tax and Bookkeeping in Blaine said…