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American Opportunity Tax Credit

Attend our massage school and receive tax credits of up to $2,500.00

CFMNH is the ONLY massage school in Asheville approved by the United States Department of Education as a Title IV school, which means you may be eligible to take advantage of significant tax credits when you attend our program. 

Below is information on available Tax Credits, as well as important forms and publications for completing your tax return.

 

The American Taxpayer Relief Act of 2012 extended the AOTC for five years through December 2017

Under the American Recovery and Reinvestment Act (ARRA), more parents and students will qualify for the American Opportunity Tax Credit to help pay for college expenses.

The American Opportunity Tax Credit modifies the existing Hope Credit. The AOTC makes the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. It also adds required course materials to the list of qualifying expenses and allows the credit to be claimed for four post-secondary education years instead of two. Many of those eligible will qualify for the maximum annual credit of $2,500.00 per student. 

The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.  

WHAT SCHOOLS ARE ELIGIBLE TO OFFER THESE TAX CREDITS?

From the IRS: Eligible Educational Institutions:

"An eligible educational institution is generally any accredited public, nonprofit, or proprietary (private) college, university, vocational school, or other post secondary institution. Also, the institution MUST be eligible to participate in a student aid program administered by the Department of Education." The Center for Massage & Natural Health meets these eligibility requirements. There are many 'accreditation' orginaztions that are not approved by the United States Department of Education. Schools who are eligible can be looked up through the IRS website.  

RELATED ITEMS

• Tax Benefits for Education: Information Center
 IR-2009-78, Special IRS Web Section Highlights Back-to-School Tax Breaks; Popular 529 Plans Expanded, New $2,500 College Credit Available: http://www.irs.gov/uac/Special-IRS-Web-Section-Highlights-Back-to-School-Tax-Breaks;-Popular-529-Plans-Expanded,-New-$2,500-College-Credit-Available (copy & paste to new window)
 Education Tax Credit Brochure