Puff, the Magic Dragon - Parodies. 1  In the mid 1970s an American Jewish band named Ruach created a parody version of the song entitled Puff the Kosher Dragon.
Pay tuition directly to the college. If you are considering making an outright cash gift, another option is to bypass your grandchild and pay the college directly. Under federal law, tuition payments made directly to a college aren't considered taxable gifts, no matter how large the payment.
Expenses paid with gifts, bequests, inheritances, or loans do count as qualified expenses. Amounts paid for room, board, insurance, medical expenses, student activity fees, and transportation are not considered qualified educational expenses and should not be declared as such on your tax return. What tax benefits are available for students or parents of students with qualified educational expenses for 2010?