Alabama rolled out applications for its new school choice program earlier this year, and even the lawmakers behind it were surprised by the volume of submissions from families of K-12 students. That’s why the state nearly...more
At long last, school choice has come to Texas. A new state law will allow participating families in the state to utilize publicly funded education savings accounts to pay for private school tuition and other approved...more
Federal income tax law offers tax advantages to taxpayers that save money in specially designated accounts earmarked for future educational expenses (“529 Accounts”). In addition, federal income tax law also incentivizes...more
Effective July 1, 2024, institutions of higher education participating in Title IV Federal Student Aid programs must comply with the U.S. Department of Education’s (Department) Financial Value Transparency and Gainful...more
The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more
Section 529 college savings accounts are used for tax-free education investments. When considering whether to create a 529 account, there generally is some apprehension that the person you are saving for won’t pursue a...more
Additional Tools for Employers to Encourage Retirement Savings- Matching Contributions on Student Debt Payments- One of the most eagerly anticipated provisions of the “SECURE 2.0” legislation is the ability for...more
This case involves whether taxpayers are allowed to claim the American Opportunity Credit (AOC) on their federal income tax return. In 2018, the IRS disallowed the AOC claimed by John M. Vassiliades and Eliza Ortizluis...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 8, 2022...more
When parties get divorced and there are children in high school or younger, they often reserve on what their financial contributions towards the children’s post-secondary educational expenses will look like. We often include...more
The Appellate Division’s July 6, 2021 decision follows nearly a decade of post-judgment divorce litigation between the parties. Defendant appealed three (3) Family Part orders which (1) denied his motion to reopen an...more
Included in the federal Further Consolidated Appropriations Act 2020 signed by the president on December 20, 2019, is the SECURE (Setting Every Community Up for Retirement Enhancement) Act (the “Act”), a law expanding the...more
Every year, a staggering number of bright minds do not attend college as a result of their family’s financial circumstances. Minds Matter confronts this issue head on by offering a comprehensive and highly successful...more
We have now passed the first two major deadlines for this legislative session - the last days to introduce bills in both the House and Senate. While bills may still be originated in committee, the other deadlines still apply,...more
We are now just over halfway through the legislative session. By Friday, February 8, the 31st day of the 60 day regular session of the West Virginia Legislature, the House of Delegates had introduced 944 bills, while the...more
The smell of tax season is in the air. Accountants and tax attorneys alike are sharpening their pencils, replacing the batteries in their calculators, and stocking up on coffee. But something feels different this year. . . ...more
If you have a son or daughter who is or will be pursuing a college degree, you may wish to keep in mind the possibility of taking advantage of two income tax credits that may be available in connection with “qualified tuition...more
The new federal tax law, known as The Tax Cuts and Jobs Act, that was approved by Congress and signed into law at the end of 2017, creates a benefit for individuals paying tuition for children in private or religious schools...more
The benefits of enrolling children in extracurricular activities are endless. Not only do they learn how to play a sport or musical instrument, but also soft skills and valuable life lessons, such as teamwork, the importance...more
Earlier this week, United States Tax Court Judge Richard T. Morrison ruled, in the case of Emmanuel A. Santos v. Commissioner, T.C. Memo 2016-100 (May 17, 2016), that the government will not pay the cost of a taxpayer...more