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Tax information for teachers

News

By Anonymous Hero
Posted Sun Feb 08, 2004 at 06:48:06 PM PDT

[editor's note, by jvano] April 15 is just a little more than two months away, so the following story (which appeared back in 2002) may be of interest again as tax season draws neigh.

The following link (http://www.taxguide-collegeteachers.com ) may be of use to those among us who teach; please check it for further information on tax laws and how they affect teachers specifically. In particular, one may find some information regarding possible tax deductions for sabbaticals, purchasing equipment such as computers or texts to aid one's research. Enjoy!

Kevin Charlwood
Washburn University

[editor's note, by jvano] Back in 2002 when I was in Project NExT this document was recommended as full of useful ideas/tips for doing your taxes. Unfortunately, it appears they will not be publishing a 2004 guide ;(

However, readers are welcome to post their tax ideas/tips (Disclaimer: use any ideas/tips at your own risk, most readers are not tax consultants and YMN takes no legal responsibility if you do something and get audited!)

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Tax information for teachers | 3 comments (3 topical, 0 hidden)

[new] Site out of date? (5.00 / 1) (#1)
by overconvergent on Tue Feb 10, 2004 at 04:41:25 PM PDT

I would note that the site says that they won't be producing a tax guide for Tax Year 2003.

[new] Can't locate any info (5.00 / 1) (#2)
by Anonymous Hero on Thu Mar 04, 2004 at 08:09:50 AM PDT

The webpage no longer contains information. It just seems to have a picture of the old guide. Does anybody have the old guide (in pdf form, for example)? Will Traves

[new] if you've got the money.... (5.00 / 1) (#3)
by jkuchen on Thu Mar 04, 2004 at 03:21:43 PM PDT

After doing a little bit of searching, it appears that the guide is now a full-fledged book, although I can't find a 2004 copy of it. Various sellers want $50 for the 2003 version.

I did get a couple of hits for some university libraries, so check with your reference section to see if they have the 2003 version.

My personal tip: read the fine print on your dues. MAA dues can be deducted either as a professional expense or as a (smaller) charitable contribution. If you itemize but don't have enough professional expenses (I think you need at exceed 2% of your income), count the smaller amount as a charitable contribution. And all of those extra amounts that you may pay on dues most (Epsilon Fund, Annual Fund, and the like) are charitable contributions. Even if you don't have a mortgage, look into itemizing. If you pay enough in state taxes or other property taxes (especially if your state taxes a car as if it were property), you may be able to itemize and increase your deductible.

Tax information for teachers | 3 comments (3 topical, 0 hidden)

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