Are You a Teacher?  What Deductions Might Apply?

Maicher CPA Pllc provides a full range of tax services to help businesses and individuals succeed.  Certain professions have some very specific rules concerning what business expenses are deductible. Teachers are one such profession.  Under what circumstances can teachers deduct expenses?

First, in order to deduct expenses, a teacher must meet these qualifications:

• Teach any grade from K-12;
• Work at least 900 hours during the school year; and
• Work in a school that provides elementary or secondary education.

Also, an instructor/counselor/principal or aide who meets the above requirements can deduct the expenses discussed below.

Second, for single filers up to $250 of the following unreimbursed expenses can be deducted ($500 for married teachers filing jointly):

• Professional development courses
• Books
• Supplies
• Computer equipment including related software and services
• Supplementary materials
• Athletic supplies for health and physical education

Take-away:  With schools open again, many teachers are spending their own money on classroom supplies.  Fortunately, eligible teachers can deduct certain expenses paid in 2019. Are you a teacher?  Or in some other profession? Whatever your profession, you may qualify for some tax-saving deductions.  Make an appointment at Maicher CPA Pllc today to see what deductions apply to your profession.

Sources:

IRS Tax Tip 2019-137: “What teachers should know about deducting out-of-pocket classroom expenses,” October 2, 2019.

Tax Tip 2019-83: “Educators can claim deduction to get money back for classroom expenses,” June 26, 2019.