As students from elementary age to grad level across the country head back to school this month, parents are grappling with how to pay tuition, buy school supplies and fit in all of those extracurricular activities. It can be difficult to figure it all out, and in an era where everyone seems to have an…
It’s Taxes From A to Z! P is for Private and Parochial Schools.
In a few hours, my children will get up and get dressed for the first day of school. There will be no drama. There will be no “I don’t have anything to wear.” I can say this with a reasonable amount of certainty because, as students who attend public school in Philadelphia, my children will…
My kids are still trying their best to soak up the last few days of summer. Lucky for them, school won’t start until after Labor Day which means that they have another 20 days left, not, mind you, that anyone is counting. In other towns and cities across the country, some students are already heading…
Taxpayer asks: My daughter attends an independent private elementary school. We pay around $10,000 a year in tuition. Is it deductible? Taxgirl says: Thanks for writing. This is actually one of my pet peeves in tax policy. You don’t get a break for paying for private school tuition: if you pay for private or parochial…
Mitt Romney has said publicly that parents who home school their children should get a federal tax credit to help offset the expense of teaching. “I also believe parents who are teaching their kids at home, homeschoolers, deserve a break, and I’ve asked for a tax credit to help parents in their homes with the…
The next installment for my daughter’s private school tuition is due in about a month. We pay approximately $10,000 per year. It sounds steep, sure, but we are also the recipient of fairly low real estate taxes in Philadelphia. My friends across the river pay about $5,000 to 7,000 more in real estate taxes than…
