We’re never really sure what to believe when we watch the news these days,and when it comes to the economy and taxes even the accountants are confused. Congress passed and the president signed a new tax reform law right before the end of 2017 and most taxpayers are still trying to figure out how it will affect them personally.
One aspect of the law concerns teachers who buy school supplies for their classrooms using their own money. In a perfect world every school district would provide all the supplies needed for each classroom, but that is sadly not the case. Teachers often have to dip into their pockets to buy things the school doesn’t buy and the ability to claim a tax deduction has allowed them to recoup at least part of those expenses.
Rumors were swirling that the deduction would be eliminated in the new tax law, but it managed to escape being cut. Beginning in 2018 teachers will be able to deduct up up to $250.00 from their taxable income for school supplies they buy with their own money.
We have worked with schools and school district for many years and we do our best to keep our prices low because we understand the reality of tight budgets. Teachers as well obviously have limited money for school supplies and we admire their dedication to students and their community.
We applaud the lawmakers who kept this deduction available for dedicated educators and we pledge to do everything we can to keep our prices low, our product quality high, and we will always deliver superior customer service to all our customers.