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Byline: PAUL KATZEFF
With the arrival of August, student and parent thoughts drift casually toward the . . . well, Niagara Falls of education bills.
As bills for the coming semester quickly pile up, so does the resolve to reduce them to manageable levels.
"Education costs have climbed so high that most parents must take full advantage of any breaks provided by the tax code," said Jackie Perlman, senior tax research analyst for H&R Block.
Toward that goal, several tax credits and deductions get straight A's. They can be applied to eligible costs for post-secondary education in college, two-year college and trade school.
The Lifetime Learning Credit lets you cut your 2004 tax bill by as much as $2,000.
It is a tax break for paying tuition. Once you figure out how much you're entitled to, you can slash that amount off your federal tax.