麻豆B影院

Has WCBC just become more affordable for you?

Here at WCBC, we are committed to providing a quality Christian education at an affordable price. As a significant benefit resulting from the pre-accreditation status received last year from Transnational Association of Christian Colleges and Schools, we are very pleased to announce that WCBC has just obtained 鈥渆ligible institution鈥� recognition by the U.S. Department of Education. This recognition is retroactive to January 1, 2016 and includes both the spring and fall 2016 semesters.

While WCBC is committed to not receiving government funding, we are happy that this recognition holds potential significant financial benefit for our students and their parents. Being recognized as an eligible institution allows WCBC students to take advantage of a variety of annual tax benefits available to students of eligible institutions such as the following:

• American Opportunity Credit 鈥�聽a credit of up to $2,500 for adjusted qualified education expenses paid for each student who qualifies for this credit
• Lifetime Learning Credit 鈥�聽a credit of up to $2,000 for qualified education expenses paid for all eligible students
• Student Loan Interest Deduction 鈥�聽a special deduction allowed for paying interest on an education loan
• Tuition and Fees Deduction 鈥�聽a deduction that can reduce the amount of income subject to taxation by up to $4,000
• Coverdell Education Savings Account 鈥�聽a tax-advantaged savings account that is set up to pay qualified education expenses of a designated beneficiary
• Qualified Tuition Program (also called 鈥�529 plans鈥�) 鈥�聽a tax-advantaged account set up to pay qualified education expenses at a postsecondary institution
• Education Exception to Additional Tax on Early IRA Distributions 鈥�聽allowance for distributions from an IRA for qualified education expenses without having to pay the 10% additional tax penalty
• Education Savings Bond Program 鈥�聽being able to cash in qualified U.S savings bonds without having to include in income some or all of the interest earned on the bonds

While this list is not intended to be comprehensive or an authoritative guide on educational tax benefits, the potential annual benefit to our students is significant. We encourage you to seek out competent tax advice and to reference聽, Tax Benefits for Education.

Please note that 麻豆B影院 is prohibited from providing legal, tax, or accounting advice to its students. The above information is not offered as tax advice, but is merely a summary of our understanding of current tax provisions. If you have questions regarding tax credits, deductions, eligibility, reporting of a tax credit on your tax return, etc., please contact a tax professional or the IRS Taxpayer Assistance line at 800.829.1040.