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State Representative Tom Hackbarth
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-2439
For more information contact: Austin Bleess 651-296-5529
NEWS COLUMN
IT’S THAT TIME OF YEAR AGAIN
The state fair has comes to a close once again. Families have returned from their Labor Day trips. All of these are clear signs that school is back in session.
I’d like to remind parents that some of your school-related purchases may be eligible for tax credits or tax deductions on your Minnesota income taxes. Under Minnesota’s education tax credit/deduction program, if you have children in grades K-12 are eligible for a refundable tax credit of up to $1,000 per child. Up to 75 percent of the money you spend on eligible expenses can be included, and the credit begins to phase out for families making more than $33,500.
For more information about education tax credits and deductions, including what eligible expenses are, you can check with the Minnesota Department of Revenue online at www.taxes.state.mn.us or call (651) 296-3781; or contact your tax preparer.
I’m sure many high school seniors, and some juniors, are thinking ahead to their college years. A good resource to look for Minnesota colleges and universities is www.getreadyforcollege.org. There you will also find information ACT and SAT testing dates, selecting a college, along with information on how to pay for college.
For the students out there who are starting college I’d like to inform you about some scholarships. There are a lot of scholarships out there, and it can seem like a daunting task to find them all, but there are resources to help. I’d encourage you to check out www.getreadyforcollege.org and www.scholarshiphelp.org for more information on paying for college, looking for scholarships, and other financial aid resources.
The kids have just started school, but before you know it the leaves will have changed colors, the snow will be falling, and then spring will be here. The time to plan for next year is now.
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