Dr. Friday 0:00
Good day. I’m Dr. Friday, President of Dr. Friday’s Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.
Dr. Friday 0:12
The modified adjusted gross income amount used for joint filers to determine the reduction in the Lifetime Learning Credit provided under 25 A is not adjusted for inflation for tax years beginning after December 31, 2020. So the Lifetime Learning Credit is phased out for taxpayers with modified adjusted gross income that exceeds $80,000 are joint filers of 160. We mean that every year those numbers are going to be the same, yet your raises may kick you outside of those situations. You can check us out on the web at drfriday.com.
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