Are there any Tax Deductions for Private school?

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can deduct your annual giving contributions and your auction donations. But of course that's on top of tuition. For a while schools were trying to frame annual giving as the tax deductible portion of tuition (and suggest that families aim to cover the "gap"), but that concept ran afoul of the IRS.

Sounds unfair that the IRS would meddle with this.

It seems unfair that the IRS would "meddle" with organized attempts to game the tax code?

You seem to be confusing the concepts of "meddling" and "doing its job." They don't mean the same thing.

[Anonymous]

Why can you deduct college tuition and not k-12?

I don't get it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hope not.

Why not? It doesn't seem fair to pay taxes for school and pay for private school.

It doesn't seem fair to pay taxes for school even if you don't have any children.

Are single people now allowed to take a deduction b/c they don't have kids that need to be schooled?

No.

That's just not how it works.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hope not.

Why not? It doesn't seem fair to pay taxes for school and pay for private school.

It seems fair to me.

Taxes for public schools are taxes, not user fees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I hope not.

Why not? It doesn't seem fair to pay taxes for school and pay for private school.

Yeah, it does. Private school isn't a public good. We give tax breaks for things that contribute to the public good. Private schools actually do the opposite.

+1

[Anonymous]

Anonymous wrote:Why can you deduct college tuition and not k-12? I don't get it.

The tax code is just a tool to control societal behavior through economic incentives. Society wants to encourage college education and college savings, so we offer tax breaks. There is no need to encourage K-12 schooling, because it's already paid for and required, so no incentives.

[Anonymous]

Yea. If you go to a special needs school. But it's complicated, I would get a tax accountant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hope not.

Why not? It doesn't seem fair to pay taxes for school and pay for private school.

Tough shit. Private school is a choice for a privileged few. Quit your entitled whining. It's embarrassing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I hope not.

Why not? It doesn't seem fair to pay taxes for school and pay for private school.

Tough shit. Private school is a choice for a privileged few. Quit your entitled whining. It's embarrassing.

Says the person who writes off 3 martini lunches.

[Anonymous]

Private school is a luxury. You don't get tax breaks for luxuries.

[Anonymous]

Anonymous wrote:Private school is a luxury. You don't get tax breaks for luxuries.

Well, that is not entirely true. Remember when everyone was writing off their big SUVs?

[Anonymous]

Anonymous wrote:Private school is a luxury. You don't get tax breaks for luxuries.

Companies write off vacations all the time and call them board meetings

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I hope not.

Why not? It doesn't seem fair to pay taxes for school and pay for private school.

Tough shit. Private school is a choice for a privileged few. Quit your entitled whining. It's embarrassing.

Says the person who writes off 3 martini lunches.

Who has 3 martini lunches? Is this 1975?

[Anonymous]

Anonymous wrote:You can deduct your annual giving contributions and your auction donations. But of course that's on top of tuition. For a while schools were trying to frame annual giving as the tax deductible portion of tuition (and suggest that families aim to cover the "gap"), but that concept ran afoul of the IRS.

Just want to point out that not all donations to auctions are deductible. (Just read an article on this today). Ask your accountant as there are VERY specific requirements for deductability.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Private school is a luxury. You don't get tax breaks for luxuries.

Companies write off vacations all the time and call them board meetings

Only for board members (and would you call spending time with work associates 'vacation') and there are limits to what can be expensed.