Teachers, this one is for you. You give so much of your time, money, and energy to ensure your students have everything they need to succeed. Even so, we know you aren’t reimbursed for all the money you spend on necessary teaching materials or professional development courses for yourself. Thankfully, the Educator Expense Deduction has your back when it comes to lowering your taxable income. If you haven’t maximized your qualified teaching expenses for 2021 yet, now is the time to do so! As the holidays approach, you can give your students the gift of a fully stocked classroom ready to meet their needs while also giving yourself the gift of a tax write off next year. What is the Educator Expense Deduction? The IRS allows eligible educators to deduct up to $250 of qualified teaching expenses every year, as long as you were not reimbursed for these expenses by your school, a grant, or by some other means. If you are married, filing jointly, and both you and your spouse qualify as e...
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