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What tax deductions are available for teachers?

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What profession they are in is among the things that can have significant tax implications for a person.

For one, it can impact what sorts of tax deductions and credits are available to them. Reasons for this include that a person’s occupation can greatly impact what kinds of expenses they are likely to incur and that there are certain tax deductions/credits that are occupation-specific.

Today, we will go over some of the tax deductions/credits those in the profession of teaching may have available. Among the expenses a teacher may be able to deduct are:

  • Expenses for further education they pursue in relation to their career. Such expenses could be eligible for the Lifetime Learning Credit.
  • Expenses related to professional development.
  • If they work at multiple schools, expenses related to getting from one school to the other. Such travel, depending on the specifics, may qualify for a travel deduction.
  • Expenses for supplies for their classroom. K-through-12 teachers have a special deduction available to them called the Educator’s Expense deduction. It allows for the deduction of up to $250 of school-related expenses, such as classroom supplies, a year. This is a non-itemized deduction.
  • Large items they donated to the school. Such a donation could qualify for a charitable donation deduction.

As a person’s profession can impact what sorts of tax options they have, it can also impact what kinds of tax disputes could potentially come up for them. Additionally, what line of work they are in could have impacts on what particular goals a person has for resolving a tax dispute when they end up in such a dispute. Experienced tax lawyers can assist teachers who have run into tax troubles, such as disputes with the IRS over deductions/credits they took in relation to career-related expenses, with understanding which of the legal options available to them may be able to help with their particular situation and goals for resolving the matter.

Source: The Huffington Post, “Back to School Tax Tips for Teachers,” Mark Steber, Aug. 16, 2016

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