Do I Qualify to Deduct Tutoring Expenses For My Child?

Do I Qualify to Deduct Tutoring Expenses For My Child?If you have a student in your class, you are probably wondering if you can deduct tutoring expenses from your tax return. While most of us will find it appealing to be able to claim deductions for our many needs, one thing that we will never consider is that the amount we should be able to deduct for our tuition and fees should be a small fraction of our income. However, in some cases this is exactly what is happening.For home school families, not only are expenses incurred for tutoring considered deductions, but so are many other things such as books, pencils, and supplies. How can this be? One of the main benefits of home schooling is that you are able to spend more time with your child, as well as on your own pursuits. Having extra money after the fact can add an extra zing to your taxes, but there are ways around this, too.First, ask yourself if the expense was necessary to receive a tax break. An example would be if your chil d was required to take an advanced placement English class. Is there anything else he or she could have learned? At the very least, it would be fair to deduct the cost of books and other materials that could have been learned.Another scenario could be a home school student that has a full time job. For example, let's say that you make your own weekly schedule and are able to find a full time job that offers flexible hours. This could be a great way to get a tax break on your home school expenses.As we mentioned, is it necessary to receive a tax break? In this situation it is simply not necessary. It does not even seem worth it to have someone else tutoring your child. If you need to have a tutor, and need one as often as possible, you may be able to deduct their hourly rate.Another thing to consider when calculating the tax deduction for your student are books, supplies, and other free educational materials. They may be considered part of your tuition and can be deducted. You must h ave a receipt for each one that you receive. If you are able to get them for less, you can deduct the difference in price.Your personal credit also may allow you to receive an additional tax deduction for home schooling. You can ask for the financial aid office to be able to eliminate any part of your tuition from their equation. You may not be able to completely get away with it, but it may be worth a try.Lastly, be sure to get the correct tax documents for your deduction request. Do not just write out the receipt or get an estimate from the college. Make sure to send in the proper paperwork.