In: Advanced Math
1. $ 250 EDUCATOR DEDUCTION:
A special educator deduction allows kindergarten through grade 12 teacher to deduct $250 of what they pay for books, supplies, equipment, and other materials used in the classroom. This is not an itemized deduction but this is an adjustment to your gross income.
2. EDUCATION EXPENSES:
Teachers often take continuing education courses or other courses to improve their skills even though they are not required. The cost of such courses may be recouped through a tax credit or the tuition and fees deduction.
3. RETIREMENT PLANS:
Teachers who invest their own money in a tax qualified retirement plan may deduct the amount of their contributions.
4. CHARITABLE DONATIONS:
Charitable donations are a deductible itemized deduction. This includes donation to a school or other education institution. Such donations can include buying library books, materials for the classroom or giving a monetary donation to a school. You can deduct charitable donations only if you itemize your personal deductions instead of taking the standard deduction.