Homeschool tax

Upcoming trump homeschool tax Can someone explain this to me Is it basically similar to an hsa/fsa except for homeschool? Are there any California stipends available? Thank you

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This is what I found on the Donald J Trump website: “President Trump pledged to allow homeschool parents to use 529 education savings accounts to spend up to $10,000 a year per child, completely tax-free to spend on costs associated with homeschool education.” So yes, it sounds similar to an HSA/FSA.

@Shanxi thank you! Yes that’s what I was thinking. I am grateful for it. But was hoping for something more of a stipend

I hadn't even heard about this yet 👍

The problem with a stipend scenario is that it’s like government funding your homeschool. Homeschool Idaho has a detailed explanation on why it’s so important to keep homeschool free of government regulations and funding: https://homeschoolidaho.org/school-choice/

@Shanxi can you explain HSA/FSA?

@Shanxi thank you! That’s such great information and totally makes sense to keep them out and away from us. The whole point of keeping kids out of the public school system. Especially where we live. It’s just difficult at times because our local government ups the damn tax for public school. Like we’re not using any of it.

@Jessica heal savings plan / flexible savings plan You set aside a certain dollar amount before tax to use for out of pocket health costs. I believe anything from prescription medicine, over the counter, etc.