Uncategorized Articles

  What Is Inflation?

Isn’t it inflation if you pay more for a product now than a few years ago? Not necessarily. If you pay a dime more for a loaf of bread or a buck more for a basic, white T-shirt, that isn’t inflation. If you pay $800 more for a new car than you did a decade ago, that is inflation. Why? Because, a loaf of white bread or a T-shirt is much the same today as it was a decade ago. But your new ride has a boatload of additional technology.

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  American Opportunity Credit

Unlike the Hope Credit that this credit has temporarily replaced, the American Opportunity Credit is good for all four years of college, not just the first two.  This tax credit is based on 100% of the first $2,000 spent on qualifying college expenses and 25% of the next $2,000… for a maximum annual credit per student of $2,500.  The full credit is available to individuals whose modified adjusted gross income is $80,000 or less for married couples filing a joint return.

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