With all the money I have spent getting ready for school, is any of it taxable?
It all depends on your income. You may be eligible to claim the K-12 education substration and/or education credit on your Minnesota tax return. Here are a few expenses that qualify: text books, pens, pencils, notebooks, folders, tutoring or instructor fees, music lesions & instruments during normal course of the school day, computer hardware & educational software & tuition to private school. In order to take these deductions you must have your receipts!
For more information or if you have questions please feel free to give Sandy Flom a call at 507-333-3973 or you may use our convenient online form and have Sandy contact you.
Tax Management is Essential. It’s NOT what you Make, But What you KEEP!