This is the third part of our multi-part series of blogs on tax benefits for education. Any present or former student should utilize the knowledge, experience and expertise of the tax professionals at the Thorgood Law Firm to ensure that they take advantage of all the credits and deductions that the law allows for students of higher education.

Tax credits, deductions and savings plans offer taxpayers ways to reduce their expenses for higher education.

• A tax credit may reduce the amount of potential income tax.
• A deduction reduces the amount of income that is subject to tax, thus reducing the amount of tax paid.