The 13 Most Overlooked Tax Deductions
February 21, 2007 by Karen Weideman
Filed under financial matters, saving money
Here’s an article about tax deductions that I thought you should read. Are you claiming all the expenses you are allowed? If not, you could be missing out on hundreds, or even thousands of dollars. Here’s a few tips that I follow:
- Medical deductions. This includes money paid for doctor’s visits and prescriptions and it also includes all mileage to and from the doctor’s office and pharmacy. You’d be surprised how quickly the mileage adds up.
- Educator’s expenses. Since I am a teacher, I know about this one. Teachers and teacher assistants can claim up to $250 they paid in books and classroom supplies.
Check out the complete article at Kiplinger.com.
To bad the $250 no where near covers what most educators spend out of their own pocket…I know personally I spend anywhere from $700-$1000 on average. Our classroom budget has been nil for the past 6 years and everything has to come out of pocket. I teach science too, Biology, Physical Science, and Astronomy. $250 doesn’t even cover a semester in lab supplies.
I didn’t know you could deduct medical expenses like that. Thanks for the tips.
Wow Shell, you spend a lot on your students! That doesn’t seem reasonable, and dare I say the word, fair that they would expect you to effectively teach such courses without any funds. How are you to do labs without supplies? That’s crazy!
Thanks for visiting.