Increased Tax Deduction for Teachers' Classroom Expenses
This new law raises the amount elementary and secondary school teachers can deduct from their taxes for work-related expenses, such as classroom supplies. This means teachers can recover more money for their out-of-pocket costs, potentially improving their personal finances.
Key points
The maximum tax deduction for eligible educators increases from $250 to $1,000 annually.
The changes apply to expenses incurred by elementary and secondary school teachers.
The new rules are effective for tax years beginning after December 31, 2022.
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