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.
Story Highlights. 1  Tuition and fees you pay to the college are tax-deductible. 2  Travel to home, room and board, medical expenses are not deductible. 3  There is an income cap on education-related deductions.