Teachers who have spent their own money on masks, hand sanitizer or other Covid-19 related supplies this year will get a little help come tax time. Those costs can be deducted with other eligible out-of-pocket expenses on 2021 taxes filed next year. Teachers have been able to deduct up to $250 each year in out-of-pocket expenses – $500 if two teachers are married and filing jointly – for some time. Due to the pandemic, however, the benefit was expanded to include supplies for protection against Covid-19. "Good for teachers," said enrolled agent Adam Markowitz, vice president at Howard L Markowitz PA, CPA in Leesburg, Florida, adding that educators generally have to incur a lot of costs throughout the school year, especially those that work with younger kids. More from Invest in You: Half of Americans with retirement accounts have taken an early withdrawal If you don't get a 6% raise, are you taki . . . read the full article here.
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