Questions tagged [education]

a generic tag related to studies. Country specific tags are recommended. Related tags "student-loan", "taxes" maybe used depending on the question.

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Is there an annual limit to how much money can be sent to a grandson for higher education?

How can a grandfather send money to grandson(US citizen) for US higher education? Is there a limit per year ? Does grandson have to pay gift tax to US government? What documents are needed by ...
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US Income Tax: Continuing Education Deduction for New Job

I started a new job as a manager in September 2021. This was my first management job. In October 2021 I spent $52,000 on a continuing education course (executive education) focused on leadership. The ...
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1 vote
1 answer
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Claiming Educational expenses for my spouse - married filing jointly

My spouse is preparing for the CPA and I am wondering if I can claim her course related expenses while filing 2021 taxes? Q1. In 2021, there were only exam related and books related expenses. Are ...
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2 votes
2 answers
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Tax Implications of employee education assistance reimbursement the following year

The company I work for offers an Educational Assistance Plan and I took classes over the Spring and Fall semesters of 2021. The company requires final grades before reimbursing the expense and so I ...
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3 votes
1 answer
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What does the FAFSA mean by academic year?

Suppose you go to college with credits, which makes you an academic sophomore. I would assume you should go with the # of years you spend in college, not your academic progression, when filling out ...
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0 votes
2 answers
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Is it legal for a college to ask for your 12-month bank transaction history?

I'm trying to pull together my in-state residency petition before my fall bill is due after finding out suddenly that my residency was listed as out-of-state while I was on scholarship. The petition ...
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How broadly are qualified expenses defined for the Lifetime Learning Tax Credit?

The IRS allows 20% of up to $10,000 of "qualified education expenses" to be applied to one's tax bill via the Lifetime Learning Credit (LLC). I've been searching for more information ...
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-5 votes
4 answers
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Should I follow Robert Kiyosaki's advice and drop out of college?

Robert Kiyosaki's books completely changed the way I look at my education. Robert Kiyosaki said that "'A' students work for 'C'" students, so I thought: what's the point in being an 'A' ...
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1 answer
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Indian Income Tax System Rebate on Education Loan and House Rent

I am a recent graduate and will be starting my job in a couple of days. My offer Letter says CTC Offered: ● X LPA (can't disclose the actual amount) -> fixed and it is written that: Applicable ...
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3 votes
3 answers
462 views

Is an academic career financially feasible for me?

I'm a nontraditional student interested in pursuing an academic career in the humanities. However, I'm trying to decide whether this is a financially feasible path for me. By the time I'd complete my ...
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Should I sell investments to pay for grad school?

I'm planning to attend graduate school (USA), which will cost around 200k over 3 years. I have about 200k in highly appreciated stock (basis average of 100k, long-term gain) in a personal investment ...
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2 votes
1 answer
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Should I report Employer Tuition Assistance? (what if it's paid after tax year?)

I live, work and attend school in the U.S. My employer has a tuition assistance program in place that covers 100% of tuition and eligible expenses up to $5000 per calendar year. My plan was to attend ...
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1 answer
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Can you claim books as a business expense?

Bill Gates reads hundreds of books a year, most, if not all of which are books that directly help him with his work. In his case, it probably doesn't matter, but for the rest of us, buying hundreds of ...
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2 votes
6 answers
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Is investing in education and a sustainable life a good alternative to investing in stocks, gold, land etc.?

I have recently read a couple of articles about what are the main ways to invest your money to protect them from being diminished by the inflation (I am living in a non-EUR EU country where inflation ...
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Do I need to file taxes or can I file taxes educational credit refund purpose with 1098T?

I did not work at all but I received a 1098T for my online school. The 1098T has $12,070.04 on box 1 and $2,529.53 on box 5. I will like to know if I should file taxes with the 1098T only to get ...
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2 votes
1 answer
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Is it possible to refund semester fees via income tax return in Germany?

Colleagues at work mentioned that semester fees for the Master studies can be declared for the tax return as for the position that we have at work, having a Master degree is mandatory. Can someone ...
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1 vote
3 answers
388 views

What jobs to gain knowledge on finance? [closed]

I don't have former experience or education on finance, but I want to find a job in finance so I can gain more knowledge about it to help secure the future financially. I have a strong background in ...
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2 votes
1 answer
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Paying for Spouse's Education with Savings vs Line of Credit vs RRSP (LLP)

My partner is currently going to school with no income, and I have been working for a number of years with a reasonable income (enough for savings, RRSP (Registered Retirement Savings Plan) , trips ...
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1 vote
2 answers
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Is a technical Masters degree in a high-paying employable field worth it? [closed]

I give as a follow-up to my first question, a more reality-driven premise and question. I ask: Is a Masters degree in a high-paying employable field worth it? Say you need 4 pre-Masters (aka post-...
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17 votes
6 answers
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What are things to think about when paying for/taking out a loan for graduate school? [closed]

I haven't seen a lot of posts related to graduate school in this SX, but I apologize if there are. I bolded the crux of my question. I'll apply my situation to this question as an example: I got a ...
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2 votes
1 answer
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Am I a dependent or can I claim an exemption for myself?

I am a university student who is currently working on filing my 2017 federal income taxes. My parents can no longer claim me as a dependent because they did not support me over 50% in 2017. However, ...
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48 votes
10 answers
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How can a high school student value a possible degree?

From another question I asked, an answer said: If a person borrowed heavily to obtain an education where they make anything less than 75K per year then it was probably foolish. There are many jobs ...
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1 vote
1 answer
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Question on the IRS Form 1098-T

Is this a new form? I was doing TurboTax and I filled out the information and it wouldn't let me submit my tax refund because it said the IRS is still working on the forms. I did read something that ...
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1 answer
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Education Loan interest paid & loan completed 2016 | india | How to claim income tax

I bought education loan in 2006 and completed the loan with interest in March 2016, Is it possible to claim income tax against interest paid for this loan in FY 2017-2018 in India?
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1 vote
1 answer
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Do I lose potential tax benefits by using my employer's tuition assistance program?

Let's say I plan on attending graduate school part-time and that I am currently employed full-time at a company that offers full tuition reimbursement for graduate school with the catch that I must ...
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5 votes
1 answer
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Does the proposed tax reform make it so that you have to pay taxes on scholarships?

I came across an analysis of the tax reform bill in which its author suggests that tuition paid by a school or scholarship will be treated as taxable income under the new rules, and wasn't under the ...
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0 votes
0 answers
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What is the process that NYSE goes through when returning a company to be compliant?

I am not sure if I am using the right terminology, but when NYSE issues a listed company a non-compliance letter, they get listed in their "Noncompliant Issuers". For example, the first company ...
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4 votes
1 answer
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US - educational tax credit on imputed income for educational expenses?

My wife is employed by a university. Up to a certain monetary amount, she can take classes with no financial or tax impact. (I believe this amount is set by the IRS but that's not at issue here.) ...
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1 vote
2 answers
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Trade? Buy and hold? Or both? [closed]

I am now taking control of my own investments. While I've made a few in the past, including one very good and one very bad, I really don't have a clue. So I attended an intro class by a trading school ...
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1 vote
1 answer
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Do I report 1098-T's box 2 (Amount billed for tuition) amount if I have not paid to it?

I am very confused on this one. In regards to Education Credit Expenses, do I enter box 2 (Amounts billed for qualified tuition and related expense) of form 1098-T if I have not paid on the billed ...
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1 vote
1 answer
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Are the education credits given on your taxes based on the amount of your expense, or is it a base amount of credit no matter your expenses?

My daughter needs to prove her education expenses for the education credits she received on her 2014 taxes. This was her first year filing taxes and she did use a tax lady. The tax lady has told us we ...
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1 vote
3 answers
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How can I decide whether do a masters even if I have go into debt after doing it?

I have an undergrad from a reputable university. I am doing well. My friends from University are pursuing more education from other countries. I have two options, Quit my day job and start doing a ...
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2 votes
2 answers
433 views

How to become an investment banker?

I'm a 16 year old from Canada trying to map his life. I enjoy finance, math, economics and that sort of stuff. A couple of months (9) ago I read Michael Lewis's The Big Short and have been obsessed ...
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-1 votes
1 answer
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Is Rich Dad Cashflow 202 the new version of Rich Dad Cashflow 101?

I was watching a TED talk about "Why the Rich get Richer" and the speaker mentioned a game called "Cashflow" that's like a financial simulator. I noticed that there are two versions of it: one called ...
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2 votes
1 answer
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What happens to my current loans if I go back to school?

I just recently received my bachelor's degree. I have government loans and a personal loan from Sallie Mae. I have to start paying these back in mid June. I have a job currently, and I was originally ...
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1 vote
1 answer
100 views

using 401(k) to fund self-education

I'd appreciate pointers to references on how to (or how not to :-) use funds from from one's 401(k) in order to pay education expenses for oneself--particularly, how to incur minimum penalties or ...
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1 vote
0 answers
62 views

What Qualifies as "Business Deduction for Work-Related Education" Under US Tax Code Publication 970

I work as a Software Developer. Using Topic 513 Publication 970 Chapter 12 of the US Tax Code would I be able to deduct any of the following? Paying for and taking PTO to attend a conference and ...
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2 votes
1 answer
123 views

Are there any tax-advantaged retirement plans I can use if I'm a grad student with only stipend/fellowship income?

I'm starting a graduate program in 2017 where I'll get a stipend. I don't think I'll receive a W2 because I won't be working for the wages, so I don't think I can contribute to my IRAs while I'm in ...
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2 votes
1 answer
497 views

Can MOOCs be treated the same as university for taxes (US)?

Without understanding a lot about taxes, I know that there are several tax credit opportunities for college students in the US (The American Opportunity tax credit, Lifetime Learning Credit, etc). ...
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2 votes
2 answers
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How much will I potentially receive from grants?

After reading this question which gives a general overview of strategies of how to pay for college, it wasn't clear to me exactly how much "a dent in what you'd pay" could be, particularly in the case ...
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9 votes
2 answers
3k views

When does it make financial sense to take advantage of employer's tuition reimbursement program?

Many companies offer tuition reimbursement programs. On the surface, these programs are such that qualified employees can enroll in undergraduate / advanced degree programs (or even take individual ...
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3 votes
2 answers
373 views

Wisest option to pay for second career education

I am 30 years old and my husband is disabled and unable to work, so I am the one income for our family. (We do not have any children.) Due to a number of factors, I am considering going back to ...
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3 votes
5 answers
3k views

What are some good books for learning stocks, bonds, derivatives e.t.c for beginner with a math background?

Despite being STEM person, I always wanted to learn how stock & financial markets work. I always wanted to know how those stocks work, what are those bonds e.t.c. The only struggle I am having, ...
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4 votes
1 answer
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Can I get a tax deduction for education expenses?

I work as a Computer Programmer for a Healthcare Company. I am in the process of applying for Part Time - Master's Graduation Program in Healthcare. I wonder whether i would be able to get Tax ...
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0 votes
1 answer
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Is there a way to short the general education market?

Or in part to short companies involved in supporting the current state of the education market? (book sellers, equipment vendors, universities etc..)
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1 vote
2 answers
145 views

Plan/education for someone desiring to achieve financial independence primarily through investing? [closed]

I just turned 20 and live in the U.S. I haven't started any career, and I haven't graduated with an associates like some of my friends. I'm at a crossroads and I don't quite know what to do. I want ...
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-4 votes
1 answer
3k views

How does Pell Grant work for students with a foreign Bachelor's?

I have an MD degree from a foreign institution. But because I got that foreign MD from an unaccredited medical school 30 years ago, I can't find a job in the U.S. Therefore, I decided to get at least ...
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0 votes
2 answers
49k views

Does 1098-T need to be filed by student?

I am filing my taxes via TaxAct, and I am not sure whether my 1098-T Copy B (for students) needs to be reported. On my Copy B it states "This is important tax information and is being furnished to the ...
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2 votes
2 answers
126 views

Lifetime Learning Tax Credit if company pays for grad school?

My company pays for my 30k tuition as well as books and other expenditures for school. Can I still claim the life time learning tax credit on my personal 1040?
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2 votes
2 answers
222 views

Will I, as a CS student, be allowed to take loans for paying the fees of Ivy Leagues?

I am non-US citizen hoping to study in US. I have a good chance of getting admitted in one of the Ivy leagues in US. Considering that my family has no property large enough to take a hefty loan on, ...
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