08/01/2017
It is sales tax free weekend so I offer this Tax Reminder:
It is time for school registration and school shopping. Some of these expenses are eligible for income tax credits when filing your taxes. Some credits include: school registration fees, activity tickets, driver's education if paid to the school, special extracurricular equipment (cleated shoes, uniforms and other non-street clothing), and many others. See listing below.
For a more detailed listing please contact me and we can discuss this and other tax credits that you may be eligible for.
I look forward to working with you during the upcoming tax season. If you have any questions please feel free to contact me.
ELIGIBLE & INELIGIBLE EXPENDITURES FOR THE IOWA TUITION AND TEXTBOOK TAX CREDIT
Tuition:
Tuition for any K-12 school that is accredited
Textbooks and Publications:
Textbooks and other instructional materials used in teaching subjects legally and commonly taught in Iowa's public elementary and secondary schools, including those needed for extracurricular activities (including fees for required textbooks and supplies); computers, if required
Clothing:
Rental or purchase of “non-street” costumes for a play or special clothing for a concert not suitable for everyday wear; rental of prom dresses and tuxedos
Driver's Education:
Only if paid to the K-12 school
Dues, Fees and Admissions:
Annual school fees; fees or dues paid for extracurricular activities ; booster club dues (for dependent only); fees for athletics; activity ticket or admission for K-12 school athletic, academic, music, or dramatic events and awards banquets or buffets; fees for a physical education event such as roller skating; advanced placement fees if paid to high school; fees for homecoming, winter formal, prom, or similar events; fees required to park at the school and paid to the school
Materials for Extracurricular Activities:
Materials for extracurricular activities, such as sporting events, speech activities, musical or dramatic events, awards banquets, homecoming, prom, and other school-related social events
Music:
Rental of musical instruments for school or band; music / instrument lessons at a school; sheet music used in a school; music books and materials used in school bands or orchestras for maintenance of instruments, including reeds, strings, picks, grease, and other consumables
Shoes:
Football, soccer, and golf shoes; other shoes with cleats or spikes not suitable for street wear for teams associated with the school
Supplies for Industrial Arts, Home Economics or Equivalent Classes:
Cost of required basic materials for classes such as shop class, mechanics class, agricultural class, home economics class, or equivalent classes
Travel:
Fees for transportation to and from school if paid to the school; fees for field trips if the trip is during school hours
Uniforms:
Band and athletic uniforms