Is a school yearbook tax deductible?
We're selling yearbooks at school, and due to printing costs our prices have gone up. I am planning on proposing we advertise it being a tax write off so more people will buy, but I don't want to falsely advertise the yearbook.
Can I deduct tuition for my girlfriend's college if I pay them directly?
Who Can Claim the Credit Generally, you can claim the American opportunity credit if all three of the following requirements are met. • You pay qualified education expenses of higher education. • You pay the education expenses for an eligible student. • The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return
Can private school fees and coaching tuition fees be claimed as deductions under the Indian Income Tax Act?
You can claim deduction against tuition fees paid for educating your 2 children. If you and your spouse both are working than you can claim deduction for 4 children. (2 children each).This deduction is only applicable to the individual salaried employees and the maximum limit of deduction is INR 1.5 lakhs per year.This is referred under Section 80C of Income Tax Act and is only applicable for children’s education and can be used towards tuition fees paid to school/ college/ university. For private schools also, this deduction is applicable if the school have necessary affiliations.However, this deduction is only applicable for fees paid towards tuition fees and cannot be claimed against fees paid towards private coaching or books expense or other fees.To know more about how to apply various deduction to cut short your taxable salary than contact allindiaitr.com and get answers from the tax experts.
Do you get paid for homeschooling your kids?
You do. You receive a payment in joy and a deeper connection with your family. You watch with pride as your child concurs obstacles and challenges. You watch them grow and learn and all the while you are rewarded with the knowledge that you have been instrumental in helping your child to prepare for adulthood. These things are priceless. As for mere money? You will put out a whole lot more than you bring in but it is worth every penny you invest in your child’s future.I did however teach at a homeschool co-op and received a small amount for each student.
Is paying a book rental fee for public school tax deductible (or even legal)?
I'd talk to an attorney about the book fees. A school system in TX tried that a number of years ago and the courts ruled it illegal after a fairly brief fight.
Taxes on grad school stipends?
I am a Ph.D candidate at this time on a stipend, and I have my taxes professionally done. I can tell you that my income is taxable just like other income I have earned in the past, to whatever rate you fall into as you are considered an employee of your university. I usually end up getting money back from the federal government and owing the city and state of NY, but that was always that way. It also depends on how you do withholding and your local taxes. If your tuition is paid by your program, it is not considered taxable income to you. But the tuition credit that you can take when you pay your own tuition is also not allowed. I have not paid any taxes on the money that my program has paid for my tuition. But they pay it directly to Columbia, and not to me.
Can I claim full day Kindergarten tuition on taxes?
When you claim preschool tuition on your taxes, it counts as a child care expense rather than as tuition-based education. According to Internal Revenue Service Publication 503, such tuition counts as a necessary expense if both parents (if filing jointly) must pay someone to care for their child while they work or look for a job. The IRS does not allow deduction for preschool when an at-home parent can care for the child. Up to 35 percent of the tuition can count toward the credit, as of 2010. Read more: Can You Claim Preschool Tuition on Your Taxes? | eHow.com http://www.ehow.com/facts_7259360_can-cl...
Can I claim my interest free college tuition on 2009 tax return?
I attended Penn Foster College on line and just finished up my Associates in Business Management. Penn Foster does not participant in any tuition programs. They do offer no interest monthly payments. All books and learning materials are included in their price so I didn't have to buy anything. I have never claimed what I paid them on my tax returns. Someone told me that I can claim my payments to them on my tax return and I want to find out if this is true. I went on the IRS web site and it is so confusing. I live in New York City. Does any know about this? Thanks.