Don't miss these overlooked tax breaks
12. Educational expenses
The Internal Revenue Code offers many tax-saving options for individuals who want to further their educations. The tuition and fees deduction can help you take up to $4,000 off your taxable income and is available without having to itemize.
The Lifetime Learning Credit could provide some students (or their parents) up to a $2,000 credit.
Don't forget the American Opportunity tax credit, which offers a dollar-for-dollar tax break of up to $2,500.