Tax-Free Computers For College Students

Buried deep in conference report for the The 2009 American Recovery and Investment Act, is a goody for anyone attending college this year or next -- a tax write off for computer purchases.

Section 1005 of the bill, found on page 526 of the Conference Report, allows a full tax write-off for college students who purchase computers and computer software in 2009 or 2010.

Veterans might want to hold off on any computer purchase until the start of the fall semester this year when they can use much richer payments from the new GI bill, which goes into effect this August, to buy a computer that comes with a tax write-off.

Gamers be warned -- don't try to buy a souped-up machine or software and try to write it off unless the game software "is predominantly educational in nature."