New Tax Deduction!

         On the eve of the official start of Tax Season, the Internal Revenue Service (IRS) has just announced a new deduction that is appropriate to the times we are living in. Teachers and other qualified educators can deduct expenses related to COVID-19 personal protective equipment bought last year. This change took effect with the passage of the Omnibus Appropriations Act in December 2020.

       No more than $250 can be deducted, and this only applies to expenses that were not reimbursed. This would include things like face masks, hand sanitizer, physical barriers, or tape and chalk to mark physical distancing guidelines. This deduction may apply to anyone who works at a K-12 school at least 900 hours during the school year. If you have not done so already, gather your records and make an appointment with your Qualified Tax Professional. Having all your documents prepared beforehand will make the tax filing process much smoother.

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