Tax season hasn’t even started, but my website stats tell me that homeschooling parents are already wondering if there are any tax breaks for homeschooling, based on my previous blog post, Any Tax Breaks for Homeschoolers?
There are no tax credits for homeschool expenses from the federal government, but there may be tax deductions on your state income tax depending on what state you live in.
Several states have an educational tax credit.
Arizona, Illinois, Iowa, Louisiana and Minnesota and all have some sort of tax break for individuals. The credit is available to any public or private school student, so it is not unique to homeschoolers.
Florida, Indiana, New Hampshire and Pennsylvania offer businesses a tax credit if they sponsor a scholarship.
This website has a comparison of state programs that offer a tax credits for educational expenses or for a donation to a scholarship fund. It was last updated in September 2011. https://www.house.leg.state.mn.us/hrd/pubs/educcred.pdf
Home School Legal Defense Association has an explanation of some states’ tax breaks or credits:https://www.hslda.org/docs/nche/000010/200504150.asp
Ann Zeise of A to Z Home’s Cool has a great, detailed and lengthy post of tax write-offs for homeschoolers:
Sorry I don’t have happier news, but many homeschoolers fear that a tax credit might come with strings attached such as reporting private information and record keeping that they would not care for. They prefer to homeschool in freedom and pay their own way in full.
What do you think?
Carol Topp, CPA