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Message
Ideas for claiming private school as a tax deduction.
Posted on 8/9/12 at 3:42 pm
Posted on 8/9/12 at 3:42 pm
Can anyone help me with ideas to claim private school tuition as a tax deduction?
I have 3 kids starting private school within the next 2 years. (1 child this year and 2 the following year.) Kindergarten is $6k a child and it quickly gets up to ~$10k child after 2nd-3rd grade. I am looking at $18k/year next year and rising to $30k within the next few years.
Are there any methods to not paying taxes on the tuition?
TIA
I have 3 kids starting private school within the next 2 years. (1 child this year and 2 the following year.) Kindergarten is $6k a child and it quickly gets up to ~$10k child after 2nd-3rd grade. I am looking at $18k/year next year and rising to $30k within the next few years.
Are there any methods to not paying taxes on the tuition?
TIA
10
Posted on 8/9/12 at 3:54 pm to tiger114
quote:
Are there any methods to not paying taxes on the tuition?
Yes. Send them to public school.
Posted on 8/9/12 at 3:58 pm to tiger114
quote:
Are there any methods to not paying taxes on the tuition?
Cash crops.
Posted on 8/9/12 at 4:07 pm to tiger114
Move to Louisiana and get the state deduction.
Posted on 8/9/12 at 4:16 pm to tiger114
Find a cheaper private school?
I went to Catholic schools K-12. I don't know what tuition was in K-8 but it wasn't that much, because high school was more expensive and it was only $4k a year because we tithed to the church.
Still, non-Catholic students only paid $5k/year.
I went to Catholic schools K-12. I don't know what tuition was in K-8 but it wasn't that much, because high school was more expensive and it was only $4k a year because we tithed to the church.
Still, non-Catholic students only paid $5k/year.
Posted on 8/9/12 at 4:16 pm to tiger114
not gonna happen
Posted on 8/9/12 at 6:34 pm to tiger114
Honestly, send them to public school until they are in 5th grade. That is when the environment starts to decline. Try to get them into a gifted program if possible.
Posted on 8/9/12 at 10:09 pm to tiger114
Start a business. Hire your children. Provide you employees with education fringe benefits that qualify as non-taxable fringe benefits. The total tuition may exceed the limits allowed by law, but the excess would be income to your children, and then you could put money into retirement plans for them and other creative stuff to try and avoid taxes on the income.
Posted on 8/10/12 at 9:33 am to tiger114
quote:
Are there any methods to not paying taxes on the tuition?
Move to LA and take a state tax deduction.
Posted on 8/10/12 at 9:59 am to tiger114
Build a goat farm.
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