There is a special tax deductions just for teachers.
Teachers often miss key write-offs on taxes that could result in a larger tax refund. By being aware of the benefits and items that can be deducted, tax time can be more of a pleasure and less of a pain.
Must Haves
Have the following items ready before filing taxes: receipts, a spreadsheet of purchased items, Form 1040 and electronic filing software. Anything associated with your teaching profession should be recorded.
Track Expenses
Track all of your expenses during the school year. Save your receipts and record all of your purchases on a spreadsheet (or in a software program such as Quicken).
Guaranteed Money
All teachers are guaranteed a $250 tax credit. Make sure you claim it.
Rollover Effect
Carry over any additional funds from the previous year to next year. For instance, if you spent more than $250 during the filing year (which most teachers do), you can carry over additional funds for taxes the following year. Keep accurate records.
Mileage
Track, record and deduct mileage. If your teaching position requires you to travel from school to school (or to students' homes), you can deduct the mileage.
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