Article: Back To School ? Educators Deduct School Expenses
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Back To School ? Educators Deduct School Expenses
As teachers and students head back to school following a glorious summer, it?s time to remind teachers to organize 2004 school expenses. Under a temporary tax code change, teachers can deduct certain school-related expenses from adjusted gross income.
Educator Expense Deduction
If you work in the education field, you may be able to deduct up to $250 from your adjusted gross income for 2004 taxes. Unfortunately, the deduction is only applicable to 2004, but there is a reasonable possibility it will be extended to the 2005 tax year and beyond. As a result, you should continue to keep records so you can claim the deduction if it is extended. So, who can claim it and what can be claimed?
?Educators?
Under the tax code provision, ?educ...
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