7 Hidden Changes to Education Tax Breaks in the GOP Tax Bill
In the tax framework the GOP released in September, there was a passage that read, "The framework retains tax benefits that encourage work, higher education, and retirement security."
Now that an official tax reform bill, called the Tax Cuts and Jobs Act, has been introduced in Congress, there's been a lot of talk about the work- and retirement-related tax benefits, such as the lower tax rates on earned income and the preservation of the 401(k) deduction. However, few of the headlines have mentioned the many changes the bill makes to education tax benefits.
With that in mind, here's a rundown of seven key changes the Tax Cuts and Jobs Act makes to education tax benefits, some of which are positive for Americans and others of which may cost students more money.
Source: Fool.com
