October 25, 2004
Teacher Tax Deduction for Classroom Expenses Extended for 2004-05
The recent tax legislation signed into law by President Bush includes an extension of the "above-the-line" tax deduction for teachers for the first $250 "out-of-pocket" you spend on instructional materials and classroom supplies.
The legislation, first passed in 2002, had expired at the end of 2003. Many groups, including the NEA, are working to increase the deduction, to make the deduction permanent, and to expand eligible expenses to include professional development.
For more information, visit the NEA website.
Remember to keep your receipts for classroom materials you purchased during the 2004 calendar year so that you can take the deduction come tax time.