Review The Pingry School. Pingry is an academically rigorous high school in Martinsville, New Jersey. With a 100% graduation rate, 100% of students going to a four year college, and over a third of the graduating class attending Ivy League schools, Pingry has built a strong reputation for itself.
American Opportunity Tax Credit is a credit for qualified education expenses paid for an eligible student for the first four years of higher education.You can get a maximum annual credit of $2,500 per eligible student.
The $4,000 deduction would reduce the taxpayersâ taxable income to $46,000 and leave them still owing $5,591 â a net savings of just $600. But the American Opportunity Tax Credit is subtracted directly from that $6,191 tax bill, leaving the family with just $1,191 to pay in taxes.