The Louisiana School Expense Tax Deduction
At Miacademy, we’ve been hard at work partnering with various state funding agencies across the country. Our goal is to make a quality education accessible for every student, and we’re accomplishing our goal one state at a time.
If you’re homeschooling in Louisiana, we have some exciting news to share with you!
Miacademy is now an approved reimbursement for the Louisiana School Expense Deduction! Eligible families in Louisiana can access Miacademy’s accredited online homeschool curriculum with a deduction provided by the Louisiana Department of Revenue. This tax deduction helps bring a quality education to thousands of students across the state, regardless of which type of school they attend.
What is the Louisiana School Expense Deduction?
The Louisiana School Expense Deduction was created in 2008 as a way to help make home education more accessible for parents. The deduction allows taxpayers to deduct certain expenses related to K-12 education from their state taxable income. Qualifying expenses typically include tuition, fees, and other educational expenses paid to eligible educational institutions.
Currently, the deduction covers up to 50% of all qualified homeschool expenses per student, limited to $5,000 per child. The total amount of the deduction cannot be more than the total amount of taxable income. The deductions are taken from your Louisiana taxable income and are not classified as tax credits.
Who Qualifies for the School Expense Deduction in Louisiana?
All Louisiana residents who claim a K-12 dependent on their state income taxes are eligible to apply for the deduction.
The deduction can cover up to 50% of qualified expenses, including…
- Tuition
- Fees
- Textbooks
- Curricula
- School uniforms
- Instructional materials
- Other educational supplies
To learn more about additional special use cases for the Louisiana School Expense Deduction, visit their helpful FAQ page.
How Do I Get Miacademy with the Louisiana School Tax Deduction?
To claim the Louisiana School Expense Deduction, you must keep track of all qualified educational expenses and provide invoices or receipts as proof of the amounts paid.
Only the parent who claims the student as a dependent for the current or previous tax year is eligible to receive the deduction. If parents aren’t filing jointly and both claim the child as a dependent, they can each claim the deduction for what they paid.
The limit is based on the dependent’s total expenses, not the parent’s, and may not exceed $5,000. For example, if one parent paid $6,000 and the other parent paid $6,000, each parent can only claim $2,500, totaling $5,000 for the dependent.
To use the Louisiana School Expense Deduction for Miacademy, simply purchase a subscription and keep all payment records and invoices. You’ll submit these invoices as proof of payment when you file your state income tax return.
If you have any questions about how Miacademy or MiaPrep can help you on your Louisiana homeschooling journey, feel free to contact one of our friendly customer service representatives! They’ll be happy to help you find the answers you need.
FAQ
How much can you deduct for school expenses?
For the Louisiana School Expense Deduction, you may claim 50% of all school expenses, up to $5,000 per student. Qualifying expenses include tuition, fees, textbooks, curricula, uniforms, and more.
Is private school tuition tax deductible in Louisiana?
Yes, private school tuition can be tax deductible in Louisiana. Parents may claim up to 50% of tuition, not to exceed $5,000 per student.
Does Louisiana pay for homeschooling?
No, the State of Louisiana does not pay for homeschooling outright. However, you may be able to claim the School Expense Tax Deduction for homeschool expenses. This program deducts up to $5,000 from your state taxable income or up to 50% of eligible costs, to make quality education more accessible for K-12 students.
Information accurate as of: 04/10/2024. The information provided on this site is intended for research purposes only. Miaplaza is not responsible for any errors, omissions, outdated information, or results yielded through use of this information.