Howdy,
Glad to have found this forum. Tried searching for an answer, but didn't quite find an answer to my situation, so hopefully someone might have an idea
2006-08: worked for company A in Europe, who offered to pay for my MBA
2008-2010: worked for US company B.
2010-12: attended US BSchool, claimed $2000 lifelong tax credit every year.
2012: re-joined company A's US offices.
For 2013 and 2014, Company A will be reimbursing me for my tuition expense ($100k), which will show as additional income.
1) I understand the first ~$5k is tax exempt... however, is there anything I can do to mitigate the additional $45k in annual income?
2) According to the work related education deduction, I might qualify, however wouldn't this be for prior tax years (2010-2012)?
Not sure there's any way out of this big tax bill, but figured it was worth asking!