If you have, or soon will have, college-age children, you may want to review information from the Internal Revenue Service (IRS) about income tax deductions and education credits for college tuition and other expenses. In addition to deductions and credits, special education savings plans allow accumulated interest to grow free of income tax until the money is used to pay for higher education. Our sister site, Living on the Cheap, has a full article outlining some tax dedeuctions for which you may be elgible. Read the full story there.
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