CHICAGO, March 22 (UPI) -- U.S. workers enrolled in higher education can take advantage of tax laws that revive a tuition deduction, an outplacement consulting firm said Thursday.
"One of the biggest tax breaks is there for the large number of Americans who have come to realize that success in one's career requires a commitment to lifelong education," Challenger, Gray & Christmas Inc. Chief Executive John Challenger said.
Of the 6,455,000 U.S. citizens 25 and older enrolled as full- and part-time students in 2005, 4,711,000, or 73 percent, were employed, the U.S. Census Bureau and Education Department reported.
That was up 55 percent from 2000, when 47 percent of 7.1 million students 25 years old and up were employed.
Workers may also be able to deduct costs related to professional association dues, relocating for a job or maintaining a home office, the firm said.
In addition, workers who lost their jobs may take advantage of tax breaks that can offset the financial costs of unemployment, the firm said.
