Monday, May 24, 2010

Tax credit for laptops for students through 2010

According to Tiger Direct, you may be eligible for a tax credit when you buy a laptop for your kid or yourself (if you are going to school or college). Here's the link. I quote the text below: 
Here’s some great news for our United States customers who want to cut the costs of sending their kids to college!
Under the new American Recovery and Reinvestment Act of 2009, taxpayers who buy Laptop Computers for their children in 2009 and 2010 can claim those Laptops, Notebooks, and netbooks as qualified higher education expenses.
The Act defines computer-related qualified expenses as any expense incurred for buying any computer technology and equipment, as well as Internet access and related services as long as the equipment and technology is used by the student and the student’s family during any of the years the student is enrolled at an eligible educational institution.
All of you who have college-aged kids know that tuition cost have skyrocketed – so this additional perk is a welcome benefit. Now this tax break is only in effect through 2010, so those who have children in college or kids ready to start school in September need to start shopping for new Laptops.
screen shot from tiger direct dot com

More on the act from Wikipedia as well
A few things to note: 
  1. Not a professional advice: This is not professional advice. Please consult your attorney or tax accountant if necessary before making any purchasing decision. 
  2. As-is: All information included here is strictly as-is. This is simply second-hand reporting and I make no claims of truthfulness or usefulness of the information included herewith. 
  3. Non-sponsored: Because of the nature of the post, I would like to further emphasize that I have not knowingly accepted any reimbursement or special privilege for posting this message.

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