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As we approach the end of the 2021 tax year, it’s important to consider the ways you can benefit from opportunities available in the tax code. Specifically for educators, there is a deduction up to $250 for unreimbursed trade or business expenses, or up to $500 if you’re married filing jointly, and both taxpayers are qualifying educators.
If you’re an educator, a teacher, counselor, principal or aid working with kindergarteners through 12th graders, this applies to you. To put it plainly, any amounts that you spend out of your own pocket related to being an educator, are deductible on your tax return in the year that you made the purchases. Have you had any of the following unreimbursed expenses for your classroom or professional development?
· Fees for professional development courses
· Books
· Classroom supplies
· Computer equipment (including software)
· Supplementary classroom materials
· Personal protective equipment (PPE)
If any of the items above apply to you and were purchased before December 31, 2021, they count toward your deduction for the 2021 tax year, up to $250 (or $500 married filing jointly).
At AZLA, your success is our business. We dedicate ourselves to your needs.
Our full-service accounting firm is large enough to provide first-class professional service, but small enough to spend the necessary time to understand our clients’ needs and personalized, individual service.
Arcara Lenda Eusanio & Stacey, CPAs
Buffalo Office
Fredonia Office
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