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Eight tax breaks disappearing soon

Special to SEGAZINE

Credits and deductions benefiting everyone from teachers and students to homeowners are scheduled to expire at the end of the year, unless Congress extends them.

Here are eight of the tax breaks that will be missed the most, and how you can take advantage of them before it’s too late.

1. Tuition and fees: A deduction for tuition and fees of up to $4,000 is currently available to parents and students paying for college. More than 2 million taxpayers claimed this break in 2010, saving more than $4 billion, according to the most recent data available from H&R Block.

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