At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But let’s not forget about the teachers. It’s common for teachers to pay for some classroom supplies out of pocket, and the tax code provides a special break that makes it a little easier for these educators to deduct some of their expenses.

September 16, 2017 Stuart Mordfin, CPA, CGMA Tax Deduction, path act, miscellaneous itemized deductions, adjusted gross income, Protecting Americans from Tax Hikes Act of 2015, pretax benefits, itemized deduction, tax benefit, above the line deduction, tax code, unreimbursed expenses, educator expense deduction, educator expenses, back to school, classroom, s, school supplies, backpacks, clothes, teachers, out of pocket classroom expenses, professional development expenses
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Many businesses find themselves short-staffed from Thanksgiving through December 31 as employees take time off to spend with family and friends. But if you limit how many vacation days employees can roll over to the new year, you might find your workplace a ghost town as workers scramble to use, rather than lose, their time off. A paid time off (PTO) contribution arrangement may be the solution.
January 16, 2017 Ross DiMaggio, CPA Paid time off contribution arrangement, short staffed from thanksgiving through december, vacation time, paid time off, PTO Contribution program, unused vacation hours, rollover vacation days, pretax benefits, employer profit sharing, year end vacation time, convert to retirement plan contributions, limit rollover
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