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Biden polls better than Clinton against top GOP
Nassim Taleb’s ‘Black Swan’ fund made $1 bln
Alaska’s Mount McKinley to be renamed Denali
Staples, Office Depot to delay close of merger
PBF Energy chemical leak in Del. refinery
5 silly new words in the Oxford dictionary

Apple will double the cost of next Apple TV
Apple will double the cost of next Apple TV

Apple, Amazon, Google shares on shopping lists

Scott Walker wants to build a wall — with Canada
Scott Walker wants a wall — with Canada

Italy’s Eni discovers ‘supergiant’ gas field off Egypt
Italy’s Eni discovers ‘supergiant’ gas field off Egypt

Sunday is Warren Buffett's 85th birthday
Happy 85th birthday to the $67 billion man


Now is the time to fix your investment portfolio
Now is the time to fix your investment portfolio
Both worry, be happy stocks aren’t a sure bet

Facebook users flood Mark Zuckerberg with thank you’s
Facebook users flood Zuckerberg with thanks


‘War Room’ is a ‘resounding success’ at box office

10 money stories you might have missed but shouldn’t have
10 money stories you shouldn’t have missed

By this measure, stocks have weathered the worst
By this measure, stocks have weathered the worst

Atlantic hurricanes lose sway over oil-and-gas market
Atlantic hurricanes lose sway over oil, gas markets

Blue-chips with fat dividends offer value


These are the best jobs for millennials
These are the best jobs for millennials


Have kiddie birthday parties gone too far?

Parents: You’re putting your kids in danger
Parents: You’re putting your kids in danger

Cheeseburgers and happiness always on the menu for Warren Buffett — and Jimmy Buffett, too
Farrell: Recipes for happiness, from Buffett and others

Harry Styles makes more waves for SeaWorld
Harry Styles makes more waves for SeaWorld

Never use a market order when stocks are selling off
Schwab site hit by outages in busy trade stretch
Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years
Worried? With good advice, you won't be

Meet the author of one of Wall Street’s best-read blogs
Meet the author of a best-read Wall Street blog

New Orleans 10 years after Hurricane Katrina
New Orleans 10 years after Hurricane Katrina
Hurricane Katrina: Looking back and forward
Obama in New Orleans to mark 10 years


China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

How Aldi stacks up vs. Trader Joe's
How Aldi stacks up against Trader Joe’s


/conga/frontpage.html 353651

Markets »

131.79MDow Volume:
Avg Vol: 112.32M
Unchanged
186
Decliners
2190
Advancers
4209
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,643 -12 0.07%
Nasdaq
/quotes/zigman/12633936/realtime 4,828 +16 0.32%
S&P 500
/quotes/zigman/3870025/realtime 1,989 +1 0.06%
GlobalDow
/quotes/zigman/629063/realtime 2,369 -4 0.18%
Gold
/quotes/zigman/662444/delayed 1,134 0 0.03%
Oil
/quotes/zigman/2331095/delayed 44.41 -0.81 1.79%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,758 -39 1.41%
Nikkei 225
/quotes/zigman/5986735/delayed 18,936 -201 1.05%
Hang Seng
/quotes/zigman/2622475/delayed 21,498 -115 0.53%
Shanghai
/quotes/zigman/1859015/delayed 3,148 -84 2.60%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,941 -15 0.52%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 +0.01 0.52%
Yen
/quotes/zigman/16008150/realtime/sampled 121.04 -0.66 0.54%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 +0.00 0.26%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 0.00 0.35%
DXY Index
/quotes/zigman/1652083/delayed 95.76 -0.22 0.23%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.30 -0.20 0.23%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 -0.02 0.97%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 0.00 0.50%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 1.79%
Gold
/quotes/zigman/662444/delayed 1,134 0 0.03%
Corn
/quotes/zigman/7599553/delayed 376 +1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,455 -204 1.22%
S&P F
/quotes/zigman/30356461/delayed 1,965 -25 1.26%
Silver
/quotes/zigman/3134148/delayed 15 0 0.34%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 91.01 1.28 1.43%
AAPL /quotes/zigman/68270/composite 113.29 0.37 0.33%
GOOG /quotes/zigman/30194416/composite 630.38 -7.23 -1.13%
BAC /quotes/zigman/190927/composite 16.36 -0.08 -0.49%
C /quotes/zigman/5065548/composite 53.28 -0.16 -0.30%
F /quotes/zigman/264304/composite 13.74 0.18 1.33%
T /quotes/zigman/398198/composite 33.29 -0.15 -0.45%
BP /quotes/zigman/247026/composite 33.26 0.23 0.70%
GE /quotes/zigman/227468/composite 25.16 0.15 0.60%
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World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/55553287/composite NK-4.87%
  • /quotes/zigman/57221/composite ARIA+41.69%
  • /quotes/zigman/1494100/composite OIL+7.27%
  • /quotes/zigman/242371/composite LGF-0.48%
  • /quotes/zigman/10294855/composite TEVA-0.26%
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Your personal finance questions, answered.

Do I Make Too Much to Deduct College Costs?

Question: My wife and I have a joint income of about $300,000 and we pay about $60,000 annually for our daughter’s college expenses. Is there a way to deduct any of these expenses from our tax bill? — George Schienbein, Castro Valley, Calif.

Answer: Unfortunately, the options for deducting college expenses are slim for high-earning couples. Most education tax credits and deductions — including the Lifetime Learning credit and the American Opportunity credit — are phased out for single filers who make more than $80,000 and for married couples filing jointly who make more than $160,000.

Here’s one option that’s still available: Don’t claim your child as a dependent. That would allow her to qualify for the American Opportunity credit, worth up to $2,500 per year for the first four years of undergraduate studies, says Melissa Labant, in the tax division with the American Institute of Certified Public Accountants. The IRS allows taxpayers to claim only one education break per school year and American Opportunity is the most generous. The family must spend at least $4,000 on qualified expenses for the student to get the full credit, and she could claim the credit even if her parents or grandparents are footing the bill.

But it may not be worth it. Your daughter would have to be working or have unearned income in order for the credit to generate enough savings to outpace the state and federal advantage you would get from claiming her as a dependent, says Labant. Crunch the numbers with a tax preparer before you file, she suggests.

If you lived in a different state, we’d also mention that you could open a 529 college savings plan, which is an investment account earmarked for tuition expenses. Like an IRA, the money grows tax-free and there’s no tax on the gains. But unlike many other states, California doesn’t offer a state income tax break for contributions to its state-sponsored plan, and given that your daughter is already a student, any gains on the money are likely to be too minimal to make the better tax treatment worth the hassle.

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Comments (4 of 4)

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    • 1

    • -1′

    • I have found a Great work from home business I can do around my regular job and classes . I can make enough to be able to retire in 24 months . Well if making a 100,000 a month I can . Go to wwwretireby2014com and watch the videos there . They will explain everything . After that You will want to get on the waiting list right away .

    • During recession, A Homebased JOB helped my family.

      You should try it too.

      Lots of Jobs are available. You can work parttime or fulltime.

      VISIT: http://t.co/pwTvhNv

About Ask SmartMoney

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

Tokyo Markets Close in:

need to know
Biden polls better than Clinton against top GOP
Nassim Taleb’s ‘Black Swan’ fund made $1 bln
Alaska’s Mount McKinley to be renamed Denali
Staples, Office Depot to delay close of merger
PBF Energy chemical leak in Del. refinery
5 silly new words in the Oxford dictionary

Apple will double the cost of next Apple TV
Apple will double the cost of next Apple TV

Apple, Amazon, Google shares on shopping lists

Scott Walker wants to build a wall — with Canada
Scott Walker wants a wall — with Canada

Italy’s Eni discovers ‘supergiant’ gas field off Egypt
Italy’s Eni discovers ‘supergiant’ gas field off Egypt

Sunday is Warren Buffett's 85th birthday
Happy 85th birthday to the $67 billion man


Now is the time to fix your investment portfolio
Now is the time to fix your investment portfolio
Both worry, be happy stocks aren’t a sure bet

Facebook users flood Mark Zuckerberg with thank you’s
Facebook users flood Zuckerberg with thanks


‘War Room’ is a ‘resounding success’ at box office

10 money stories you might have missed but shouldn’t have
10 money stories you shouldn’t have missed

By this measure, stocks have weathered the worst
By this measure, stocks have weathered the worst

Atlantic hurricanes lose sway over oil-and-gas market
Atlantic hurricanes lose sway over oil, gas markets

Blue-chips with fat dividends offer value


These are the best jobs for millennials
These are the best jobs for millennials


Have kiddie birthday parties gone too far?

Parents: You’re putting your kids in danger
Parents: You’re putting your kids in danger

Cheeseburgers and happiness always on the menu for Warren Buffett — and Jimmy Buffett, too
Farrell: Recipes for happiness, from Buffett and others

Harry Styles makes more waves for SeaWorld
Harry Styles makes more waves for SeaWorld

Never use a market order when stocks are selling off
Schwab site hit by outages in busy trade stretch
Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years
Worried? With good advice, you won't be

Meet the author of one of Wall Street’s best-read blogs
Meet the author of a best-read Wall Street blog

New Orleans 10 years after Hurricane Katrina
New Orleans 10 years after Hurricane Katrina
Hurricane Katrina: Looking back and forward
Obama in New Orleans to mark 10 years


China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

How Aldi stacks up vs. Trader Joe's
How Aldi stacks up against Trader Joe’s


/conga/frontpage.html 353651

Markets »

131.79MDow Volume:
Avg Vol: 112.32M
Unchanged
186
Decliners
2190
Advancers
4209
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,643 -12 0.07%
Nasdaq
/quotes/zigman/12633936/realtime 4,828 +16 0.32%
S&P 500
/quotes/zigman/3870025/realtime 1,989 +1 0.06%
GlobalDow
/quotes/zigman/629063/realtime 2,369 -4 0.18%
Gold
/quotes/zigman/662444/delayed 1,134 0 0.03%
Oil
/quotes/zigman/2331095/delayed 44.41 -0.81 1.79%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,759 -39 1.40%
Nikkei 225
/quotes/zigman/5986735/delayed 18,936 -201 1.05%
Hang Seng
/quotes/zigman/2622475/delayed 21,500 -112 0.52%
Shanghai
/quotes/zigman/1859015/delayed 3,148 -85 2.62%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,942 -14 0.48%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 +0.01 0.50%
Yen
/quotes/zigman/16008150/realtime/sampled 121.03 -0.67 0.55%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 +0.00 0.25%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 0.00 0.36%
DXY Index
/quotes/zigman/1652083/delayed 95.77 -0.22 0.23%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.30 -0.20 0.23%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 -0.02 0.97%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 0.00 0.76%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 1.79%
Gold
/quotes/zigman/662444/delayed 1,134 0 0.03%
Corn
/quotes/zigman/7599553/delayed 376 +1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,458 -201 1.21%
S&P F
/quotes/zigman/30356461/delayed 1,965 -25 1.24%
Silver
/quotes/zigman/3134148/delayed 15 0 0.34%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 91.01 1.28 1.43%
AAPL /quotes/zigman/68270/composite 113.29 0.37 0.33%
GOOG /quotes/zigman/30194416/composite 630.38 -7.23 -1.13%
BAC /quotes/zigman/190927/composite 16.36 -0.08 -0.49%
C /quotes/zigman/5065548/composite 53.28 -0.16 -0.30%
F /quotes/zigman/264304/composite 13.74 0.18 1.33%
T /quotes/zigman/398198/composite 33.29 -0.15 -0.45%
BP /quotes/zigman/247026/composite 33.26 0.23 0.70%
GE /quotes/zigman/227468/composite 25.16 0.15 0.60%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/55553287/composite NK-4.87%
  • /quotes/zigman/57221/composite ARIA+41.69%
  • /quotes/zigman/1494100/composite OIL+7.27%
  • /quotes/zigman/242371/composite LGF-0.48%
  • /quotes/zigman/10294855/composite TEVA-0.26%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
  • Premium newsletters by our market experts
  • Games, such as Virtual Stock Exchange and Beat the Darts
  • Free WSJ.com registration

Email address

Password

Forgot password?