Teachers Contact Your Congressional Representative!

There is a special deduction which was available for elementary and secondary education school teachers in 2014 which has expired and Congress may not consider extending until after 2015. The deduction is limited to $250 and
reduces your adjusted gross income which is important for many other tax provisions which may be available to
you. This maximum $250 deduction is reported on the front page of your tax return so you do not have to itemize your deductions in order to take advantage of this benefit. If you have costs that you paid or incurred which are greater than $250 then those excess expenditures can be deducted on Schedule A of your Form 1040 if you elect to itemize your deductions. In addition, those excess expenditures are subject to a 2% of Adjusted Gross Income (AGI)
limitation which means that you will only be able to actually deduct the amount greater than 2% of your AGI. For instance if you spent $1,000 during 2014 you would have been able to deduct $250 on the front page of your return and the excess $750 is limited. If your AGI is $35,000 then 2% of $35,000 is $700 and you would absorb that first $700 and only the $50 excess would be an allowable deduction. The $250 deduction was available for classroom supplies, books, computer equipment, software and any other supplementary materials used in the classroom. This
deduction expired at the end of 2014. The deduction was also available for principals, librarians and other classroom assistants who are considered full-time workers. Call Tri-Valley Tax & Financial Services, Inc. @ (925) 469-1040 for more details so that we can discuss this and any other questions that you may have.