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It seems like it's millennials this and millennials that. All focus is on us for one reason or another. Perhaps because we are gaining ground on the work force and the torch will pass to us one day(scary thought). I remember being in college and doing my tax returns for the first time. There is no telling what I could have written off, but didn't because I was uninformed. Now that I'm out of the world of mid-finals and pub crawls, I'm taking a more serious approach to my taxes.
You can write off student loan interest. I've read that you can deduct as much as $2,500, as long has you have a modified adjusted-gross income below 80k or 160k if you're married. Remember, you can write off one-time courses as well, even if the course doesn't lead to a degree of some kind. So, that means you can totally take that Russian class at the community college.
For those of you who may be between jobs or at least earn less than 14k, you can qualify for an earned-income credit. There is also something to be said about moving extra money into a retirement account. You can contribute up to $5,500 a year into an IRA and can deduct the full amount.
Don't forget job-related credits, such as travel costs for relocation to a new job. You can even deduct job-hunting expenses such as fees from agencies, even down to the cost of printing off your resume.
So, there is hope for the new kids on the block. These tax credits could really help someone who is starting to look toward the long-term. Has anyone written off similar items? Are there other write-offs that I haven't even thought about?