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It's that time of year again . . . back to school!  This is a good time to learn about tax benefits that can help offset qualifying education costs. Here is information about two tax credits available to those who pay higher education costs for themselves, a spouse or a dependent.
The American Opportunity Tax Credit (AOTC)
The AOTC is worth a maximum benefit up to $2,500 per eligible student. It is only available for the first four years at an eligible educational or vocational school for students pursuing a degree or other recognized education credential. Eligible taxpayers can get up to $1,000 of the credit as a refund, even if they do not owe any tax.

There are lots of things to consider when divorcing or separating, and it is a difficult time emotionally and financially for most people. Big changes are taking place in your life, and you should be aware of how these changes may affect your taxes.
Here are some things you should know about alimony, child support, IRA's, and name changes:

Are you planning to rent out your residential property or vacation home?  If so, there are many things you need to consider other than the logistics of cleaning, maintenance, and service to the renter.
Receiving money for the use of a dwelling also used as your personal residence generally requires reporting the rental income on your tax return. Certain expenses related to renting your property become deductible to reduce the total amount of rental income that's subject to tax.

Miscellaneous deductions are tax deductions that generally don’t fit into a particular tax category.  They can help reduce taxable income and the amount of taxes owed. 
For example, some employees can deduct certain work expenses like uniforms as miscellaneous deductions.  To do that, they must itemize their deductions instead of taking the standard deduction. 
Here are several tips about miscellaneous deductions: