Education Tax Credit – please explain

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  • #615149
    tina18
    Participant

    Can someone please explain to me in simple English how it will help a parent of a yeshiva student (s) or bais yaakov in New york if the bill passes? How will it work?

    #1064063
    Joseph
    Participant

    Sounds like tuition would be tax deductible.

    #1064064
    akuperma
    Participant

    The state government will indirectly help pay tuition.

    Within a short time, they will start telling the schools what to teach, who may teach, and how it will be taught. That’s what happens when you tell the government to give you money. If you ask Andy Cuomo for a donation, it doesn’t comes free of strings.

    #1064065
    popa_bar_abba
    Participant

    They will have more money.

    #1064066
    Joseph
    Participant

    akuperma: The return favor of the Jewish community would be to provide the Governor the bloc vote.

    His father, as Governor, didn’t attach many strings when funding a Jewish special ed school. And going to bat for it (and winning) when the Supreme Court kept trying to outlaw it.

    #1064067
    lesschumras
    Participant

    If you make a donation to a scholarship fund, you get a tax credit. It remains to be determined how what will qualify as a fund. NYS already has the right to determine what has to be taught.

    #1064068
    BarryLS1
    Participant

    It’s a credit that you deduct off the taxes you owe, as in any other tax credit. This is better than direct funding, since direct funding always comes with strings attached.

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