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Save tax dollars by putting your ‘trust’ in a college savings device

by on
in Small Business Tax,Small Business Tax Deduction Strategies

U.S. tax laws provide a variety of tax breaks for higher education expenses, but high-income people are usually shut out of these goodies. Example: Joint filers can't claim the above-the-line deduction for tuition expenses if their adjusted gross income exceeds $160,000 ($80,000 if you are unmarried).

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