Extra
Credit: Educating Taxpayers
Narrated Package
Plus Additional
B-Roll and SOTs
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following footage is provided free of charge by the American Bar
Association for use in news broadcasts at your editorial discretion. |
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| SUGGESTED
ANCHOR LEAD:
Taxpayers who do their homework may get extra credit on their income
taxes this year. Expanded tax breaks for anyone financing higher
education are part of changes in the tax law for 2004. Lee Miller
looks at how students of all ages can learn a lesson about these
potential tax benefits.
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| TITLES
IN ORDER:
:25 Eric Rojas
Taxpayer
:45 Jillian
Rojas
Taxpayer
1:08 Robert
J. Grey. Jr
President
American Bar Association |
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| COUNTDOWN:
Ch. 1 – Narrator
Ch. 2 – BG & SOTs
Pkg. Runs 2:10
Plus Additional B-Roll and SOTs
TRT 6:12
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| VIDEO |
AUDIO |
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Eric and Jillian doing taxes |
NARRATOR:
Eric and Jillian Rojas know first-hand how difficult it can be to
finance a college education. Shortly after the two were married,
Eric, who had been working for minimum wage, decided to improve
his career prospects by going back to college full-time. Within
a year, Jillian started her graduate studies. Because finances were
tight, the Rojases looked for ways to save money on their tax returns.
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Title:
Eric Rojas
Taxpayer
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SOT
E. ROJAS:
We were able to take the Hope Credit for about $1,500 dollars, which
was a month worth of work for me.
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| Eric
in class |
NARRATOR:
The tax benefits that the Rojases received improved their financial
situation - but more importantly - it improved Eric’s peace
of mind. |
Title:
Eric Rojas
Taxpayer |
SOT E. ROJAS:
I believe that it really helped me, free up time, do what I’m
supposed to be doing, concentrate on school.
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Title:
Jillian Rojas
Taxpayer |
SOT
J. ROJAS:
It has helped us tremendously and it has given him opportunity to
spend more time at school and get through it vs. having to work
a lot of hours and only going to school part time.
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| Class
Room B-Roll |
NARRATOR:
There is a wide array of higher education tax benefits for students
and their parents. The American Bar Association says careful planning
will assure you get the full benefit of these sometimes complicated
tax breaks:
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Title:
Robert J. Grey Jr.
President, American Bar Association
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ROBERT
GREY:
In recent years, Congress has made it easier for taxpayers to pay
for higher education. We at the American Bar Association want to
make sure that you to do your homework. Take a look at these opportunities.
And find out which opportunity is best for you and your family.
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| Eric
at school
Eric and Jillian
doing taxes
Graphic:
-The Hope Credit
-The Lifetime Learning Credit
-Tuition and Fees Deduction
-Scholarships, Fellowships, Grants and Tuition Reductions
- Qualified Tuition Programs (also known as 529 Plans)
www.taxtips4u.org
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NARRATOR:
The ABA has a new online brochure to help educate consumers about
the different types of tax benefits to students:
-The Hope Credit,
for freshman and sophomores, can reduce a student’s tax by
up to
$1500
-The Lifetime
Learning Credit, can benefit anyone enrolled in post-secondary education,
by reducing qualified expenses by up to 20 percent.
-There are also many tax deductions and exclusions that can help
ease the financial stress of higher education. |
| Eric
and Jillian doing taxes |
NARRATOR:
As the Rojases do their taxes this year, they will apply for the
Lifetime Learning Credit, enabling them to deduct 20 percent of
their school expenses.
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Title:
Eric Rojas
Taxpayer |
SOT E. ROJAS:
It really does help. It’s a lot of money. It goes a long way;
it gives you a lot of opportunity.
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Narrator:
This is Lee Miller. |
| ANCHOR
TAG:
For more information about your options for higher education tax
relief, you can visit the ABA’s tax tips website, www.taxtips4u.org.
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| Additional
B-roll:
Eric at School
Eric at Internship
Jillian and Eric Doing Taxes
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| Additional
SOTs:
Robert J. Grey
President
American Bar Association
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GREY
SOT: If you as taxpayer qualify for an education tax benefit, it’s
your right to take advantage of it. It is also your responsibility
to find out which benefit best suits your situation. |
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GREY
SOT: There are many different ways that students and parents can take
advantage of tax benefits: there are exclusions, deduction and credits.
The American Bar Association wants to make sure that parents and students
understand how each benefit so that they can find the right one for
them. |
Additional
SOTs:
Jillian Rojas
Taxpayer
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SOT
J. ROJAS: Its made a tremendous difference, I graduated high school
and went straight to college and had a lot of family support, where
as know that we are on our own, and I have to support him to go to
school, I never realized what a burden that can be to a family. |
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SOT
J. ROJAS: Doing your own taxes can be overwhelming for people but
I have been doing our taxes since we got married, and the Hope Credit,
the Lifetime Learning Credit is really easy it’s a short form,
its not a big book that you have to read to understand, its really
simplified and easy for anyone to be able to do on their own. |
Additional
SOTs:
Eric Rojas
Taxpayer
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SOT
E. Rojas: If they didn’t have them, it would have been more
money and that makes things a little harder, you have to work quite
a few more hours and you don’t have a lot of the beneficial
things that college offers |
For
more information contact:
Julie Brown
312.988.6133
brownjd@staff.abanet.org
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