School and craft supplies are items that many families have accumulated during the year can be valuable donations to a classroom. More on Helping with School Supplies
Need a school supply list from your child's school? See if it is posted at Online School Directory
Standard School Supply List for Grade School
book bag or backpack
School Supply Savings
Tax Holidays- 13 states and the District of Columbia offer sales-tax waivers on everything from clothing and shoes to school supplies and computers, according to tax-information firm CCH.
New York, which launched the first-ever program in 1997 and has since offered a sales tax break on certain items year-round, has turned other states onto the concept. This year alone, four new states - Alabama, Maryland, Tennessee and Virginia - will offer their own version of a sales tax holiday.
Saving receipts from school supply purchases made now may help parents save when they file their state income taxes. The Minnesota Department of Revenue reminds parents that their school supply purchases may qualify for tax credits or subtractions on their 2007 state income tax return.
"We want Minnesota families who invest in school expenses to get the tax credits and subtractions that they deserve," said Minnesota Revenue Commissioner Ward Einess. "Parents should know that their school supply purchases may help them to qualify for a reduction to their taxes."
Minnesota has two programs -- the K-12 education subtraction and the K-12 education credit -- to help families pay expenses related to their child's kindergarten through 12th grade education. The subtraction and credit are based on actual educational expenses for the year. To qualify, your child must be attending kindergarten through 12th grade at a public, private or home school, and you must have purchased educational services or required material during the year to assist your child's education.
If your household income -- your federal adjusted gross income plus most nontaxable income -- is $37,500 or less, you may qualify for the credit and subtraction. If your household income is more than $37,500, you may qualify for the subtraction only.
Generally, most expenses paid for educational instruction or materials qualify. Some examples include purchases of paper, pens and notebooks; textbooks; rental or purchases of educational equipment such as musical instruments; computer hardware and educational software; after-school education, enrichment programs and summer school; and tutor fees.