 Pages: 1 |
 Author |
 Tax Credit for expenses? (currently 959 views) |
| cocobiscotti |
| Posted on: August 27th, 2004, 4:34pm |
  |
|
Guest User
|
Hey, I heard we could get a tax credit of $250 for educational expenses. I just didn't know te details. Here's a link: http://www.nheld.com/articles.htm#Bulletin%2015 Apparently, you can deduct $250 for individual returns or $500 if filing jointly. FYI: don't try to print this out....with out seriously specifying the parameters. I thought I was just printing a few pages to show my husband.....92 pages later....yikes!  |
|
 Logged |
|
|
|
|
| BensMom |
| Posted on: August 27th, 2004, 4:45pm |
|
|
Guest User
|
I haven't consulted a tax professional, but I've been deducting this for 2 years.
Cheryl |
|
| Logged |
|
|
 |
Reply: 1 - 6 |
|
|
| Shavawn |
| Posted on: August 27th, 2004, 4:56pm |
|
|
Guest User
|
hmmm.. I have been doing taxes for others as well as my own for a long time and have never heard this before. I even just took a tax class last december and the only education deductions were for PUBLIC school teachers.
I'd be interested if someone could find out if this is all correct and legal.
If it is, then YAY!! for us. I wish i'd been taught this in class, but I guess they can't teach you everything!! |
|
| Logged |
|
|
|
Reply: 2 - 6 |
|
|
| CeltWsdm4 |
| Posted on: August 27th, 2004, 5:16pm |
|
|
Guest User
|
I was under the assumption that this was only for licensed teachers. So, I haven't claimed it in the past.
As much as I'd love to deduct my homeschooling expenses, I'm leery about the idea at the same time. Flip side is that the government could begin to "regulate" Home Schools. If our taxpayer dollars are going towards Home School Education, then just as with the Public School System, they would / could possibly stipulate what curriculum we can and must teach. It would no longer be homeschool, but something more like Public School at home. 
At first glance it sounds wonderful, but after thinking more on the possibilities of what it could develop into, I'd rather not claim the $250. I've had this discussion with many other homeschoolers, and the unanimous consensus is usually the same: Nice, but NO THANK YOU! |
|
| Logged |
|
|
|
Reply: 3 - 6 |
|
|
| ashemax |
| Posted on: August 27th, 2004, 6:20pm |
|
|
Guest User
|
| I looked this up a few years back and my interpretation of it was that homeschoolers could not take this deduction. I always use TurboTax and I looked it up on that software's manuals/explanations option. |
|
| Logged |
|
|
|
Reply: 4 - 6 |
|
|
| LadyJessica |
| Posted on: August 27th, 2004, 8:25pm |
|
|
Guest User
|
| If I am reading correctly bulletin #18 at that link states that Homeschoolers do not qualify for these programs. I just scimmed it, but that is how it appeared to me. |
|
| Logged |
|
|
|
Reply: 5 - 6 |
|
|
| sarahmomgolden |
| Posted on: August 29th, 2004, 6:06am |
|
|
Guest User
|
| I have specifically read this tax deduction during tax season a few years in a row. So far I've seen no changes. As I understood it, it only applies to teachers who are currently employed as a teacher. And that the deduction does not include homeschoolers. For those using the deduction I'd be very careful if you don't fall under those guidelines. |
|
| Logged |
|
|
|
Reply: 6 - 6 |
|
Pages: 1 |
Locked Board
