This week’s recommendation comes from:
IFL Video and Marketing Manager
Michael says, “We don’t need to remind everyone about the above and beyond effort teachers put in daily. They pour out their hearts, and far too often their wallets, to give students the education they deserve. While teachers get a $250 tax deduction, which was set in 2002, our teachers are well past due for a boost. Or why not just provide them with the supplies they need?”
Teacher spending on classroom supplies has increased by 25% just since 2015. Meanwhile, their salaries aren’t even keeping up with inflation, and they’re still only allowed to deduct the same amount for expenses they were two decades ago.” – Scott Winstead, site founder of My eLearning World, e-learning evangelist, and education technology expert
Despite many spending their own money to fill their classrooms with supplies and other materials, educators can deduct only $250 on their federal income tax return, an amount that educators often exceed in their personal spending. That deduction is set to increase for 2022, the first time in 20 years, but is it enough?