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.
Hereâs everything you need to know about education-related tax deductions and credits for college tuition and expenses. For help with other issues, check out our complete Tax Guide. Tax Credits for College Students 1. American Opportunity Credit. Up to $2,500 tax credit, up to $1,000 refundable, four years maximum per student