education credits

Education Expenses Overwhelming? Try the Lifetime Learning Credit

If you, your spouse, or dependents are currently attending or planning to attend college, you may be able to claim the Lifetime Learning Credit to help offset the cost. Just remember that you cannot claim both the Lifetime Learning Credit … read more

Tax-Free Student Aid vs. Education Credit

The American Opportunity and Lifetime Learning tax credits were created to subsidize the cost of college education. Generally, the credits are based on qualified costs of education, namely, college tuition and fees, books, supplies and equipment. Those qualified costs must … read more

IRS Issues More Info Regarding Delayed 2012 Tax Return Processing

The IRS released additional information on Monday, January 28 about further delays in 2012 tax return processing.  The IRS released a list of 30 forms that cannot be filed on the January 30th date which is the date when IRS … read more

VITA – Nonrefundable Credits

Okay, the holidays are behind us.  It is time to focus on finishing page 2 of Form 1040.  But first, we needed to talk a bit about the legislation that was passed and signed by President Obama in December, after … read more

Tax Relief Act Offers Many Income-tax-saving Opportunities for Individuals

The extension of the lower income and capital gains tax rates set to expire Dec. 31, along with significant reductions to the estate tax, has probably received the most media coverage. But the Tax Relief, Unemployment Insurance Reauthorization, and Job … read more

Married Filing Jointly or Married Filing Separately?

Is it more advantageous for married couples to file income tax returns jointly or separately?  Unfortunately, the answer is not as simple as it may sound.  When filing separately, some credits and deductions are not allowed.  These include earned income … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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