Back-to-School Tax Breaks, Educator's Deductions
Another school year is in full swing. Whichever side of the desk you sit on, you may find some tax benefits waiting for you. Being aware of them now is the first step toward claiming them on your tax return next year.
If you're an educator, you may be able to deduct out-of-pocket expenses for books or classroom supplies, but this break won't last long — check out the details and limitations on the educators' deduction.
If you're a student, or your dependent is, there may be several ways that you can cut your taxes because of higher education expenses or student loan interest you paid — read the Good News for Students
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.