Parents: Some of your back to-school expenses might actually be tax deductible. For example, if you make annual donations to your kid’s public school, you may be able to deduct the donation amount from your taxable income. It depends on who benefits from your donation. If your donation of money or equipment is for the benefit of all students or a group of students, then it qualifies as a charitable donation. On the other hand, anything bought directly for your child is not deductible. That’s donations, but what about fundraisers and raffles? Raffles (where you can win prizes) are never tax-deductible. However, fundraisers can be. If you contribute to a fundraiser and don’t receive anything in return, it can be used as a charitable donation. If you do receive something in return, then the reasonable value of the property you receive must be subtracted before you take the deduction. For example, suppose you donate $100 to your kid’s sports team. In return, you get a t-shirt that would otherwise sell for $15. You would subtract the $15 value of the goods received and use the remaining $85 as a charitable deduction. After-school activities may qualify for the child care credit if it meets certain criteria. For one thing, the child must be attending the program so that you can work, look for work, or go to school. The program must also be considered “child care”, so hour-long tutoring sessions don’t qualify. Finally, the credit is only available if your child is under 13 years of age. However, there is some gray area, so if the situation isn’t clear, call our office. It’s worth looking into. The child care credit is worth between 20% and 35% of the first $3,000 in qualifying expenses for one child, or $6,000 for more than one child, depending on your income.