It’s back to school time! As everyone is busy getting ready to head to class, I want to remind the teachers out there that they have a special educator expense deduction.
Eligible educators can deduct up to $250 of any unreimbursed expenses paid for books, supplies, computer equipment, and materials used in the classroom on their personal tax return. To be eligible educators must be a kindergarten through twelfth-grade teacher, instructor, counselor, principal, or aid, and work at least 900 hours in the school year.
Currently, this deduction is only good for 2013. It expired last December and as of today, has not been renewed for 2014 or later. Hopefully, Congress will extend this.
Even though we are still on summer break school is starting in just a few weeks. The weekend of August 2-4, 2013 is a sales tax holiday for Florida. This means that no Florida state or local sales tax will be collected on clothing, footwear, and certain accessories selling for $75 or less per item, on certain school supplies selling for $15 or less per item, and on computers and certain accessories selling for $750 or less per item. So getting ready for school can be a little cheaper! The Florida Department of Revenue has more information posted online on this Tax Information Publication and a list of eligible items you can get by scanning this QR Code with your smartphone. Happy shopping!