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Controlling Expenditures in Difficult Economic Times The current slowing economy has prompted many individuals to take a closer look at how and where they spend their money. If you find yourself in this situation, and many of us do, you may need to develop some restraint in consumption and grasp the value of saving to build wealth for the future.   American Opportunity Credit For tax years beginning in 2009 and 2010, the Stimulus Act includes taxpayer-friendly modifications to the Hope Scholarship higher education tax credit (Hope Credit).   Retaining Tax Information and Records Retaining and storing your income tax information and records is an important final step of your tax filing responsibility. This article contains information on the rules for keeping your tax records.