Save Income Tax: Tution Fees

Is your child's tution fees is tax deductible?
Yes, you can deduct the tuition fees from taxes which you pay for education of your child. This is a good way to save tax. Ok you are young and don’t have child yet? Well still you can save tax by taking some classes on subjects on which you have some interest from college yourself as that’s also is tax deductible. Remember, investment in education yield highest return in any period. And when you get tax benifit on that it becomes little more rewarding :)