From markers to face masks, classroom supplies may be tax deductible Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful. The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. They can only claim […]

The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. For the final 6 months of 2022, the standard mileage rate […]

The Internal Revenue Service today reminded teachers and other educators planning ahead for 2022 that they’ll be able to deduct up to $300 of out-of-pocket classroom expenses when they file their federal income tax return next year. This is the first time the annual limit has increased since the special educator expense deduction was enacted […]