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Hello,
I am posting here- because
A) I've googled until my eyes felt like they were going to fall out of my head- and can't find my answers.
B) I posted on the Foolish questions- and the only response I got was to try posting here.

So perhaps one of my fellow Fools- with much more tax experience than I, can help:

I am pursuing a second bachelor's degree (part time-8.5 credits per semester) while working full time. I understand that there are tax breaks of some sort for me becuase I am going back to school- but I don't understand the limitations.
My income is just under $45,000( for 2005 tax year) and next year will be just under $55,000. Does this make me ineligible for the $2000 tax credit/deduction (I'm not sure which it is) for students?

I have additionally taken out a federally subsidized loan in the amount of $1,200 per semester. Are there additional tax breaks for having a school loan?

I am trying to budget myself to save to get ready to stop working and go to school full time in 2 years. I have claimed 1 exemption on my current income- but am trying to figure out if I can claim 2 exemptions to save more $ but not have to pay back a lot to the govn't at the end of the year. (I have always claimed 0 before- but realized that I was getting a lot back from the government- so I should just invest the extra I would have gotten back and not have the government hold it for a year)
I'm really young (single + no kids) and have never done my taxes before (I've only ever taken them to H&R Block before- but they haven't been so patient with my questions- so I'm planning on trying to do them myself this year) I also found out that my raise bumped me into the next tax bracket- according to my office accountant- so is it really unwise to claim 2 exemptions on my W2?

Even if you don't have answers to my question- if you can point me to a website or anything that might help- I would greatly appreciate it. As the IIRS website didn't expalin anything clearly enough for me to understand what exactly I qualify for and what I don't.
Thank You:)
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