Issues Library—Tax Policy
Education Tax Credits
What are Education Tax Credits?
Education tax credits reduce the amount of taxes owed by those who spent money on educational expenses. For example: if a person owes $4,000 in taxes but has spent $500 on educational expenses, that taxpayer can subtract the $500 from the amount owed, which leaves a total of $3,500 in tax liability.
Can Homeschoolers Benefit from Tax Credits?
The federal government does not currently extend any educational tax credits to homeschoolers. A handful of states, however, do provide for some type of educational tax credit for private education, and a few of them allow homeschoolers to benefit. See HSLDA’s Issue Analysis on this topic for more information.
What is HSLDA’s Position on Tax Credits?
HSLDA is opposed to any legislation that would increase regulation of homeschoolers. While government funding of any program is usually tied to a myriad of stipulations (with which one must comply to receive the funding), tax credits are not funding—rather, they are a way of returning the people’s own money to them. HSLDA believes that tax credits can help homeschoolers avoid the burden of double taxation, and in the past has supported most tax credit bills.
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