SCHUMER REVEALS: OF THE NEARLY 215,000 TEACHERS IN UPSTATE NEW YORK, HUGE NUMBERS ARE MISSING OUT ON CRITICAL TEACHER TAX BREAK; SENATOR SAYS BENEFIT WOULD HELP THOUSANDS OF UPSTATE NY TEACHERS SAVE UP TO $250 PER YEAR IN TAX DEDUCTIONS ON SCHOOL SUPPLIES; URGES TEACHERS TO APPLY
The Average NYS Teacher Spends A Whopping $485 Per Year Out-Of-Pocket To Help Educate Our Kids; Thousands Of Upstate New York’s Teachers Are Unaware That They Benefit From A Critical Tax Deduction; Nearly 215K Teachers In Upstate NY Would Be Able To Deduct Up To $53M In Total
The Schumer-Supported “Teacher Expense Deduction,” Allows Teachers To Take Critical Tax Benefits For Classroom Expenses; Putting Hundreds Of Dollars In Back Into Teacher’s Wallets And New York’s Classrooms
Schumer: To Think Some Teachers Aren’t Using This Tax Cut Is Like Nails On A Chalkboard
On a conference calls with reporters, U.S. Senate Minority Leader Charles E. Schumer today launched a campaign to remind teachers across Upstate New York to apply for the “Teacher Tax Deduction.” This tax deduction only became a permanent part of the tax code in 2015, with the passage of the Protecting Americans From Tax Hikes (PATH) Act of 2015, which also indexed its $250 maximum amount for inflation. Schumer supported and pushed for the inclusion of the permanent extension of the teacher tax deduction in this bill. Schumer said this critical deduction helps teachers deduct out-of-pocket classroom supply costs from their taxes. Specifically, the Teacher Expense Deduction would enable nearly 215,000 teachers across upstate New York to deduct up to $250 per year from their tax bill. Schumer said this deduction is vital to help offset the $485 on average that New York State teachers spend each year to provide additional supplies for their students. Finally, Schumer released a report on the number of teachers that this benefit could help, as well as the amount of money they could deduct.
“September means two things: kids are going back to school and New York’s teachers are getting ready to do the hard work of educating our children. I have always said it and I’ll say it again: teaching is one of the most difficult and most important professions in our country. That is why when they reach into their own pockets to buy supplies for their classrooms – to the tune of hundreds of dollars a year – we should give them a break for it,” said Senator Schumer. “Thousands of educators in Upstate New York have the incredibly important task of educating our children and providing them with the knowledge they need to be successful in and out of the classroom. But all too often, due to a lack of sufficient resources, our educators are forced to dig into their own pockets to purchase the supplies our kids need to learn and succeed. That is why I am reminding teachers across the state to use this vital tax deduction, it helps our teachers offset the cost of supplies and helps them reinvest in our students.”
Schumer explained, unlike many tax deductions, the Teacher Expense Deduction is an above-the-line deduction, which means all teachers can take advantage of it regardless of whether they itemize their deductions or take the standard deduction.
According to the United Federation of Teachers (UTF), newer teachers in their first three years spend $581 on average and those teaching a new grade spend $564. Special education teachers spend $530 on average. Schumer said today’s reminder serves as a win for all teachers because it would allow them to take advantage of the “Teacher Expense Deduction” in addition to the standard deduction or the itemized deductions they chose to take each year.
Based on 2015 IRS data and the national average of public school teachers (89% of teachers nationwide), only 258,100 of the 490,000 public school teachers in New York, or 52%, took advantage of the teacher expense deduction in 2015. Applied to just upstate New York’s public school teachers – about 103,000 teachers are missing out on the deduction.
Specifically, the 214,850 teachers throughout Upstate New York may be able to deduct a total of $53,712,500:
- In the Capital Region, 27,927 teachers may be able to deduct up to $6,981,750.
- In Central New York, 27,238 teachers may be able to deduct up to $6,809,500.
- In Western New York, 32,938 teachers may be able to deduct up to $8,234,500.
- In the Rochester-Finger Lakes Region, 33,101 teachers maybe be able to deduct up to $8,275,250.
- In the Southern Tier, 20,551 teachers may be able to deduct up to $5,137,750.
- In the Hudson Valley, 57,870 teachers may be able to deduct up to $14,467,500.
- In the North Country, 15,225 teachers may be able to deduct up to $3,806,250.
Schumer has long fought for New York’s teachers. In 2015 Schumer announced the permanent extension of the “Teacher Tax Break.” In 2014 the tax benefit expired in 2014 but was extended in the Protecting Americans From Tax Hikes Act of 2015, known as the “tax extenders” package.
For Information on The Tax Deduction and Eligible Expense, follow the link here: https://www.irs.gov/taxtopics/tc458.html
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