30 January 2012

Tax tip of the day for Teachers!

Teachers Take Your Deductions!

Teachers who spend money on teaching related supplies and are not reimbursed by their employer are allowed to deduct those expenses to reduce their taxable income. The first $250 is deducted directly from taxable income. Unreimbursed teacher expenses above $250 can be deducted as a business expense on form 2106. Some dedcutions include travel to conferences, computer and school supplies, and education publications, journals, or magazines.

For more valuable tax and financial tips, visit our website at www.erocktax.com. Please contact us with your tax questions or come see us in person.

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