2. Tax Saving Info Tax Deductions for Teachers
If you’re an educator who has spent your own money on books and/or school supplies, you can deduct these expenses to help reduce your taxes.
The Educator Expense Deduction allows teachers, instructors, counselors, principals or aides who work at least 900 hours per school year in kindergarten through grade 12 to deduct up to $250 ($500 if married filing jointly and both spouses are educators) of expenses for the classroom.
You can deduct the expenses even if you don’t itemize deductions. Indicate the amount of the expenses on Form 1040, line 21.
Find more information about the Educator Expense Deduction.
Remember, the deadline to file your state and federal taxes is Monday, April 15, 2013.