Home Schooling For Dummy
Tips, Lessons & Instructions For Parents

Home Schooling in BRIEF
Home Schooling For Dummy
Informal Schooling in Home
Practical Home Schooling
Advantages & Disadvantages
Home schooling verses Public schooling
Free Supplies
Home Inspection Schooling

Homeschooling ONLINE

Online Schooling
Free Online Curriculum
High School on Internet
Home Schooling PROGRAMS/EXERCISES
Credited Programs
Pre-packaged curriculum for Home schooling
Home Schooling Direct Instruction
Home schooling Exercise Program Children
Home schooling Argument Essays
Printable Home schooling Sheets
Home Schooling according to GRADES
Home Schooling for K-4
K12 Internet Home schooling
Home Schooling GRANTS/ACADEMY
Home Schooling Grants
Home schooling & Grace Academy
Home Schooling LAWS & TAXES
Federal Law
Custody Laws
Getting Tax Credits
Home Schooling & Income Taxes

Free Ebook Download!

Give Your Child The Education They Deserve
 Right From Your Home, Teach Them More
Than High Paying Private Schools Do!

Just enter your name and email address and I'll send you the ebook instantly!!

 

Getting Tax Credits for Home Schooling

Are there ways of getting tax credits for home schooling?

Home schooling can be an expensive undertaking. There are federal tax credits available for teachers who work in traditional schools, but what about the home school teachers? As usual, it looks as if the law was written to exclude home school teachers. Let’s take a look at getting tax credits for home schooling.

There is a tax credit of up to $200 for teachers on federal taxes. Sounds great – right ! Sure if you are a teacher employed at a traditional accredited school (either public or private). Home school parents who teach their children do not qualify for this tax credit.

The tax law specifically states that you must be employed by an accredited school (they will check for a 1099 or W2) and that this is for unreimbursed, out of pocket expenses for classroom supplies. If you are a homeschool teacher, you are not employed by your school and most likely the home school is not accredited by any organization.

So this tax credit is not one you can take advantage of. Don’t try to do this thinking you won’t get caught. The IRS is very aware that homeschoolers may take this credit when they should not. It’s not worth the hassle of an audit or having to pay back taxes.

There are tax credits available for home school families who have children with special needs. This is not for children who have minor learning disabilities, this is a tax credit for families who have children with severe disabilities and who require hiring of specialized teachers, health care assistants and other professionals in order teach and care for their disabled child.

The tax credits vary, but if you have a child with downs syndrome, severe autism, muscular dystrophy, or other severe disability including blindness or deafness, then you most likely qualify for a tax credit.

This is good news because the cost of providing proper care for these children is huge. These credits apply for homeschool costs as well as for medical costs. Check with a good tax professional to be sure that you get all of the credits you deserve.

There may be other tax credits available to you as a homeschooler on a state level. You will need to check with your state’s tax code to be sure if there is anything you can deduct or get credit for. One way to get a deduction in many states is to open a 529 account for college or post secondary education for your child.

In North Carolina you can deduct up to $7,500.00 in 529 contributions for the tax year 2007. Your state may have deductions as well. Check with the 529 program in your state to see what is available. This credit is available to parents and grandparents so it is something to look into.

It is not restricted to homeschool families. Anyone with a child or grandchild is able to open up a 529 account. Overall, getting tax credits for home schooling is not easy. What is available is very limited, so be sure to check with your tax professional.

References:
http://www.hslda.org
http://www.irs.gov
http://www.nche.org
http://www.cfnc.org

Free Ebook Download!

Give Your Child The Education They Deserve
 Right From Your Home, Teach Them More
Than High Paying Private Schools Do!

Just enter your name and email address and I'll send you the ebook instantly!!

 

 

Pros & Cons | Best Programs | Governing Laws | Supplies & Tools | Income Taxes | Internet Homeschooling | Grants | Essays

Highlights
Why Is Home Schooling Gaining Popularity
The Pros and Cons of Home Schooling
Find Out Your Child's Learning Style

Homeschooling Tips

How to Create a Home School Schedule
How To Find Lessons For Home Schooling
How to Organize for Home Schooling
How To Re-integrate a Home Schooled Child into the School Environment
How To Include Socializing into Your Home School Routine
Frequently Asked Questions
Is Home Schooling the Right Choice for Your Family
Is Your Child a Good Candidate for Home Schooling
Should You Home School Delinquent Children
Should You Use a Tutor For Home Schooling
Should You Use Online Courses for Home Schooling
Could You Teach a Foreign Language at Home
What Curriculum Should You Use for Home Schooling
What is Your Education Philosophy
Will Home Schooling Help Shy or Anxious Children
HomeSchooling Ideas
Extracurricular Activities for Home Schooled Children
Physical Education Ideas for Home Schooled Children
Project Ideas For Your Home Schooled Child
Art Program Ideas for Home Schooled Children
Music Program Ideas for Home Schooled Children
Additional Help
Where To Find Support for Home Schooling
Where To Locate Resources for Home Schooling
© 2008 Home Schooling For Dummy Copyright. All rights reserved
Privacy Policy | Sitemap | Contact Us