Back to School Tax Savings
With it being back to school season the Minnesota Department of Revenue wants to remind parents and guardians that they can save tons of money through tax write offs by saving their school expense receipts and reporting them on their taxes. This program has no income limits to qualify and is available to all parents or guardians. On average families saved approximately $1,200 last year through this program.
Another program many Minnesotans might not know about is the K-12 Education Credit program. The Education Credit Program will provide families with children in kindergarten through 12th grade with tax credit. Some expenses that may be eligible to be claimed for credit include tutoring expenses, school materials, rental fees, field trip expenses and even music lessons. There are income requirements for the Credit program so check your eligibility before filing.
More information on both of these programs can be found on the Minnesota Department of Revenue website www.revenue.state.mn.us.