Monday, December 30, 2013

CNN Money: Teacher tax break disappearing

No worries for administrators, sodas will still be included in their meetings!

CNN Money:  Dozens of popular tax breaks are on the verge of disappearing.
...Teachers' expenses: The Educator Expense Deduction aims to help teachers cover the cost of classroom supplies like notebooks, pens and paper that their school doesn't reimburse them for. Elementary and secondary school teachers can qualify for deductions of up to $250 per year, even if they don't itemize.
Nearly 4 million teachers deducted $915 million in school expenses in 2010.
"If you haven't bought all the supplies you need for your classroom, it might be worth doing that before the end of the year and taking advantage of this credit," said Greg Rosica, Ernst & Young partner and contributing author to the EY Tax Guide 2014...

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