Tax day: 8 top tax breaks for parents on tax deadline

As tax deadline looms, parents are looking for as many tax breaks as possible.

4. The American opportunity credit

The American opportunity credit. This is an education credit of up to $2,500 (subject of income limits) for folks with dependants in college. It can offset tuition (not books or meals) for a student in a degree program, for up to four years. Up to 40 percent of this credit is refundable – that means you get it even if it exceeds your tax burden.

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