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Tax Information With A Mother's Touch
Published by Eva Rosenberg, MBA, EA
Volume 3 Issue 132 September 28, 2001
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Tax Information With A Mother's Touch Published by Eva Rosenberg, MBA, EA Volume 3 Issue 132 September 28, 2001 |
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» From: Riverside, CA Dear TaxMama, My daughter just started Kindergarten and is attending a private parochial school can I write off the tuition and day care? Lydia  Kindergarten expenses can be used towards the child care credit. Discuss your fees with the school. There may be some part of the tuition/fee that is a mandatory contribution - that can be taken as a charitable contribution deduction. One interesting new twist in the new tax laws - along with the increased Education IRA limits, the money in that IRA can be used towards private school tuition. So you might want to start depositing some money in there to use towards paying for her junior high or high school. None of the earnings on that money will be taxed when you use it for private school costs. The only thing is, for this to be a meaningful use of that money, it only makes sense if the money sits there for several years generating earnings. Best wishes Eva Rosenberg Your TaxMama  |
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| Library of Congress - ISSN 1532-0790 Copyright © 2000-2003 - Eva Rosenberg |
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