Worst budgeting items..tips - taxes

Maja, My kids are all grown, well partly anyway, the youngest is a freshman in college, but my oldest 2 have 7 kids between them (and one on the way!) and I have been perusing the IRS site and cannot find anything relating to deductions for extracurricular activities, sports, school supplies

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  1. #1
    Susanne Anderson
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    Default Worst budgeting items..tips - taxes

    Maja,

    My kids are all grown, well partly anyway, the youngest is a freshman in college, but my oldest 2 have 7 kids between them (and one on the way!) and I have been perusing the IRS site and cannot find anything relating to deductions for extracurricular activities, sports, school supplies etc. Where do you take the deduction? Under what category?

    Sue





  2. #2
    Dee Bleau
    Guest

    Default Worst budgeting items..tips - taxes

    We own our own business so I am not sure if this pertains or not.

    We write it off as a donation. Like my daughter does pop warner cheerleading and this is a donation everything I spend. I can tell you that last year I think we spent almost $1,000.00 But w/o the business i am not sure

    Susanne Anderson <sueand56@yahoo.com> wrote: Maja,

    My kids are all grown, well partly anyway, the youngest is
    a freshman in college, but my oldest 2 have 7 kids between them (and one on the way!) and I have been perusing the IRS site and cannot find anything relating to deductions for extracurricular activities, sports, school supplies etc. Where do you take the deduction? Under what category?

    Sue




    Dee I went and got a my space what was I thinking!!! http://www.myspace.com/deechristmasbaby


  3. #3
    mem68
    Guest

    Default Worst budgeting items..tips - taxes


    I have just entered my 10 yr old son into a private christian school. I don't think that I can claim this either?
    [quote]
    ----- Original Message -----
    From: shawnonline
    To: Budget101_@yahoogroups.com
    Sent: Thursday, March 27, 2008 12:26 PM
    Subject: Re: Budget101.com : Worst budgeting items..tips - taxes


    I can notdeduct our home schooling curriculum/supplies since I looked into this very closely. So I don't.

    I'm not sure this would be legal. Why would extra curricular activities be tax deductible? Ican't seem to see the reason for this. Just like entertainment/hobbies expenses are not deductible.



  4. #4
    Tressa Watts
    Guest

    Default Worst budgeting items..tips - taxes

    well if anybody can figure this out PLEASE post...I know just in volleyball alone last year it is close to $3,000 . that isnt including basketball for camps and swimming, etc. I know it is close to $5,000 at least for the year with all her sports.




    To: Budget101_@yahoogroups.com
    From: dejeffbleau@yahoo.com
    Date: Thu, 27 Mar 2008 03:52:36 -0700
    Subject: Re: Budget101.com : Worst budgeting items..tips - taxes





    We own our own business so I am not sure if this pertains or not.

    We write it off as a donation. Like my daughter does pop warner cheerleading and this is a donation everything I spend. I can tell you that last year I think we spent almost $1,000.00

    But w/o the business i am not sure

    Susanne Anderson <sueand56@yahoo.com> wrote:
    <BLOCKQUOTE class="EC_replbq" style="BORDER-LEFT: #1010ff 2px solid;">



    Maja,

    My kids are all grown, well partly anyway, the youngest is a freshman in college, but my oldest 2 have 7 kids between them (and one on the way!) and I have been perusing the IRS site and cannot find anything relating to deductions for extracurricular activities, sports, school supplies etc. Where do you take the deduction? Under what category?

    Sue







    Dee


    I went and got a my space
    what was I thinking!!!
    http://www.myspace.com/deechristmasbaby




    <hr>How well do you know your celebrity gossip? Talk celebrity smackdowns here.



  5. #5
    shawnonline
    Guest

    Default Worst budgeting items..tips - taxes


    I can notdeduct our home schooling curriculum/supplies since I looked into this very closely. So I don't.

    I'm not sure this would be legal. Why would extra curricular activities be tax deductible? Ican't seem to see the reason for this. Just like entertainment/hobbies expenses are not deductible. Maybe school supplies but I don't think so. Might be a good question for a tax professional to be sure.

    Thanks,
    Shawn


    Susanne Anderson <sueand56@yahoo.com> wrote:
    [quote]




    Maja,

    My kids are all grown, well partly anyway, the youngest is a freshman in college, but my oldest 2 have 7 kids between them (and one on the way!) and I have been perusing the IRS site and cannot find anything relating to deductions for extracurricular activities, sports, school supplies etc. Where do you take the deduction? Under what category?

    Sue




  6. #6
    shawnonline
    Guest

    Default Worst budgeting items..tips - taxes




    I will be homeschooling my child next year and would like to know if school related expenses, such as curriculum, school supplies, field trip activities, etc., are deductible?



    There is no deduction for your child's home schooling expenses. These are nondeductible personal, living, or family expenses. Please refer to Publication 529, Miscellaneous Deductions.
    http://www.homeschoolzone.com/faq/taxes.htm

    I found this online

    I'm assuming the same is true for all extra curricular activities for public schooled children as well since it is not a business and not a business expense.



    [quote]

    Susanne Anderson <sueand56@yahoo.com> wrote:
    [quote]




    Maja,

    My kids are all grown, well partly anyway, the youngest is a freshman in college, but my oldest 2 have 7 kids between them (and one on the way!) and I have been perusing the IRS site and cannot find anything relating to deductions for extracurricular activities, sports, school supplies etc. Where do you take the deduction? Under what category?

    Sue



  7. #7
    Nancy
    Guest

    Default Worst budgeting items..tips - taxes


    It certainlyis NOT a deduction if the expenditures are for your daugher's participation rather than justa general contribution to the organization. School supplies would not be deductible unless you gave them to the school itself, not for the use of your children/grandchildren.

    Nancy

    [quote]
    ----- Original Message -----
    From: Dee Bleau

    We own our own business so I am not sure if this pertains or not.

    We write it off as a donation. Like my daughter does pop warner cheerleading and this is a donation everything I spend. I can tell you that last year I think we spent almost $1,000.00

    But w/o the business i am not sure

    Susanne Anderson <sueand56@yahoo.com> wrote:




    Maja,

    My kids are all grown, well partly anyway, the youngest is a freshman in college, but my oldest 2 have 7 kids between them (and one on the way!) and I have been perusing the IRS site and cannot find anything relating to deductions for extracurricular activities, sports, school supplies etc. Where do you take the deduction? Under what category?





  8. #8
    Nancy
    Guest

    Default Worst budgeting items..tips - taxes


    Go to this IRS publication. Pages 6 and 7 have details on what you cannot deduct.

    http://www.irs.gov/pub/irs-pdf/p526.pdf

    [quote]
    ----- Original Message -----
    From: shawnonline
    To: Budget101_@yahoogroups.com
    Sent: Thursday, March 27, 2008 12:26 PM
    Subject: Re: Budget101.com : Worst budgeting items..tips - taxes


    I can notdeduct our home schooling curriculum/supplies since I looked into this very closely. So I don't.

    I'm not sure this would be legal. Why would extra curricular activities be tax deductible? Ican't seem to see the reason for this. Just like entertainment/hobbies expenses are not deductible. Maybe school supplies but I don't think so. Might be a good question for a tax professional to be sure.




 

 
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