Even during a pandemic, educators are currently preparing for what will be a school year like no other. That’s why today we would like to talk about some expenses that teachers and educators can deduct on their tax return next year.
What Educators Are Eligible?
In order to be eligible for these deductions, educators must meet the following requirements:
- Be a kindergarten through grade 12 teacher, instructor, counselor, principal, or aide.
- work at least 900 hours a school year in a school that provides elementary or secondary education as determined under state law.
Information to Keep in Mind
The educators who meet the conditions outlined above can deduct up to $250 of trade or business expenses that were not reimbursed. So, it’s advisable that educators who are preparing now for the school year keep their receipts to used them to support their claims for these deductions.
If two educators who are eligible to file their taxes together with the status married filing jointly, the deduction will be $500. However, keep in mind that hese taxpayers cannot deduct more than $250 each.
What Expenses Can Educators Deduct?
There are many expenses that educators can deduct, ranging from courses to services related to computer equipment.
- Fees for professional development courses
- Computer equipment including software (programs) and other related services
- Other equipment and materials used in the classroom
As you can see, there are many opportunities for tax deductions. If you are an educator, talk today to one of our experts at JT Taxes. They can guide you and provide you with detailed information about all the deductions you may qualify for.
More Tax Resources
Getting more information about taxes is a smart move that help you save money and time. These are some previous posts you may find interesting:
- Read this post and debunk four common tax refund myths.
- Keep in mind these ideas when you file your taxes.
- What is the Tax Credit for Sick and Family Leave?
- 3 Tools you’ll need after filing your taxes
Get Help From the Experts at JT Tax Services
The world of taxes is besieged by myths and other outdated or otherwise unreliable advice. That’s why is important to get help from a tax expert who can guide you with professionalism providing trustworthy information.
At JT Tax Services we have the experience, the knowledge, and the drive to assist you. With our advice, you can file your taxes with the peace of mind that comes with knowing that you are limiting your liability while staying compliant with federal and state tax regulations.