If you have healthy kidneys and use these medicines for occasional pain, they probably donât pose a risk. But Dr. Simon says that if you take them for chronic pain or arthritis, you should talk to your doctor about monitoring your kidney function or finding alternative ways to control your pain.
You may transfer up to $5,000 per student, per year, in tuition fees and education credits to the studentâs spouse, parent or grandparent so that they may claim this on their return.or example, if a student incurs tuition fees of $15,000 in one calendar year and he or she has no taxable income against which to utilize the tuition tax credit, it may be preferable for the parent to claim a $5,000 tax credit, ensuring that some tax relief is provided in the year the tuition fees are incurred.
Education tax credits can help you with higher education costs by reducing the amount of tax you owe. There are two credits available, the American Opportunity Tax Credit and the Lifetime Learning Credit. We check both of them for you. American Opportunity Tax Credit (AOTC) You can use this credit for the first four years of college when working towards a degree. Maximum credit is $2,500 per eligible student. Must be enrolled at least half time for at least one semester during the tax year. Up to $1,000 can be refunded to you. Lifetime Learning Credit. There is no limit on the number of years you can use this credit for undergraduate, graduate and professional degree courses, including ones to improve job skills. Maximum credit is $2,000 per tax return. Can be used when you're only taking one class. You don't need to be working towards a degree. If you're not eligible for either of these credits, we'll see if you qualify for the tuition and fees deduction.