TaxTips

Continuously looking for ideas to save your tax dollars


Keeping our Client's abreast of new tax laws and providing them with possible ideas on ways to reduce their tax burden is one of our goals.   We offer this through this continual update of new tax laws and providing some TAX TIPS which may offer savings ideas.  We present these ideas; however, please consider all facts in your case, and talk with your tax representative,  before implementing any of these these ideas.

       Educator's Expense Deduction

Elementary and Secondary school teachers, counselors, and principals are now eligible through the year 2005 to take up to $250 in out-of-pocket expenses for classroom materials as a deduction from gross income.  The Working Families Tax Relief Act of 2004 (WFTRA) extends this deduction for tax years beginning during 2004 or 2005.

 

 Copyright   1987 - 2010 A. Harold Davis, CPA