New Wisconsin Tax Deduction for Tuition Expenses

Did you know that a little known tuition tax deduction started in Wisconsin in 2014? Now parents are allowed to deduct private and religious school tuition up to $4000 for each child in grades K-8 and up to $10,000 for each child in grades 9-12.

This tax deduction does not require the schools to comply with voucher program regulations and is available to all families for tuition assistance. Please see the information below containing specific information about this program or give us a call at (414)352-3200 to discuss how this program can be applied to your specific family situation.

Any taxpayer who pays tuition expenses at a private school (grades K-12) is eligible. Taxpayers who have incomes that have at least some tax liability and who are within the allowable deduction per child will receive the benefit. The portion of tuition covered by scholarship or tuition assistance is not eligible as the deduction is applicable only to expenses that families have actually paid. Please note that this is a deduction and not a tax credit. The amount that any one family or individual will save is dependent on their income, how they file, and the resulting tax liability.

Please give a call at (414)352-3200 to discuss specifics regarding your personal circumstances.