Tax Tips For TeachersBeing a teacher is incredibly rewarding, but it costs when it comes to supplies and in-class needs.  School systems watch their dollars and cents closely, and so teachers get left needing to cut corners to provide the same amount of efficiency.

Supplies, software, and taxes don’t have to amount to as much when you know how to cut costs.  Get smart and learn how to avoid full price and empty wallets.

Here are supplies, software, and tax tips for teachers…

Keep Track

Saving can be as simple as keeping track of expenses and out of pocket buys for your classroom and students.  Speak to other teachers, your principal, or financial planner about tracking costs and filing for reimbursements at the end of the quarter or year.

Consider Claiming a Home Office

If you qualify, you can claim a portion of your home as an office.  Those who tutor after school, at night, and on weekends may qualify as a ‘business’ owner, saving on taxes.  It may even create a greater incentive to spend more time making a supplemental income!

Track Mileage

Expenses are not books and supplies alone.  If you coach or manage a school-affiliated team and use your own vehicle, you can get compensated for gas and vehicle maintenance.  It’s small savings if you live in the same town as the school, but if you live over twenty miles and go to and from multiple times per day, the mileage and stress on your car adds up.

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broken-piggy-bankI pulled up to the drive-through window of my favorite fast food restaurant and ordered the meal that I always get. When I drove around to pay, the cashier said hi and mentioned that she hadn’t seen me there in a while. I obviously go there too often.

I also find myself getting a little upset when people oust me on Foursquare as a mayor of any one of my favorite restaurants. It irks me. I’m mayor of several, and I feel a sense of competition when someone steals the title.

There is a telling pattern in this that may mean I have a spending problem. There are other clues, of course. Here are some signs that we may not even recognize as clues that we are potentially overspending.

Real Life Feels Like A “Cheers” Episode

It is a bad sign when a sales clerk knows your name. I used to think that it was cool that my local bartender knew my name. Like Norm on “Cheers,” it feels great when people know you.

The problem is that you have to go to a bar or a store a long time for someone to know you. It’s a clear warning sign and a clue that you may be spending too much time and money in an establishment.

Even though the cashier didn’t know my name at the fast food restaurant, that she recognized me meant I had been going there too much. My wallet and my midsection were taking the brunt of ordering the same meal, week in and week out.
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