Skaters' parents, please help!

[oz01]

I heard that the money you pay for your kid's skating lessons is tax deductible. Is it true? How can I do that? Thanks!

[Lee]

Not in Canada (for Cdn's information)...

[jp1andOnly]

in canada, you can however write off summer skating lessons as "babysitting" or "daycare" This is becasue it's like sending your child to camp..sort of ;)

But Lee is right..no deductions for the Canadian skaters

[Lee]

Only if you're working in the summer...I wasn't in all the years my daughter skated summer school, so no such deductions for me...*sigh*...

[jp1andOnly]

exactly Lee. By the time my dad was told he could take a deduction for my brother, my brother was too old too qualify. He wished they (skate canada) would have printed that in their brochure for skating parents.

[dooobedooo]

I did know a child once whose skating was sponsored by her father's business, and who used to be driven around in a car with her name spray-painted on the side .... She was an OK skater (won a few local low-level competitions) but not *that* good ....

[rinkrat24/7]

Are you only able to do this in Canada or in the US as well?

[Wind]

Originally posted by oz01
I heard that the money you pay for your kid's skating lessons is tax deductible. Is it true? How can I do that? Thanks!

You might want to check out the Canadian Forum - Tax Breaks We Need Action.

[oz01]

I live in US. Once my daughter's coach told me to save all the receipts for skating lessons cause some parents found a way to deduct the tax. I hate to ask other parents in the rink but have you ever heard of it?

[sk8er1964]

Never heard of it here in the US - have you asked an accountant?

[vesperholly]

I have a feeling that in the US it can be done... I knew a girl from Atlanta whose parents kept a separate bank account for her skating expenses, and paid for every cent of her skating - test, ice fees, competitions, dresses, lessons - through that account. However, I am no CPA so I couldn't begin to answer how to do it.

Jocelyn

[arena_gal]

Skating camps can be deducted as daycare but I think there is a limit on how much per week is allowed. This is interesting that I found . This is from Champions Training Centre (Kerry Leitch's ) web site at http://www.championstc.com/ in Ontario Canada.

We would like to make you aware of the fact that Kerry Leitch Figure Skating Schools Inc. has been certified by Employment and Immigration Canada as an Educational Institution. As such, certain portions of its fees qualify as a deduction for income tax purposes.
An official receipt will be issued for tuition fees paid by or on behalf of your child to an Educational Institution certified by the Department of Employment and Immigration and that relate to a particular taxation year. These fees will not be eligible for the credit unless the student is at least 16 years of age during the taxation year.
In claiming a deduction for income tax purposes, tuition fees must first be claimed by the student to reduce their federal tax liability to zero, no matter who may have paid the fees. The remaining amount of unclaimed tuition fees, up to a maximum of $5,000.00 per student, may then be transferred to the students parents or grandparents and claimed as a deduction on their personal tax return.