With Tax Day on the horizon, I think your readers would be interested in our new study showing thatTeachers spend 3X more than they're able to deduct.
Important data points:
The typical teacher spent an average of $853.90 out of pocket on school supplies in 2023 — the largest amount ever
In all, teachers across the US spent an estimated $3.24 billion on essential items to help their students succeed, like pencils, paper, cleaning supplies, books, software, and other materials.
The educator expense deduction was enacted just over 20 years ago in 2002, giving teachers the ability to deduct up to $250 of out-of-pocket classroom expenses when filing their federal tax returns.
For the 2023 tax year being filed now, the maximum deduction has only increased ever so slightly to just $300.
If the maximum educator expense education had kept pace with inflation since its passing in 2002, teachers would be able to deduct over $425 in expenses, but that’s not the case.
Overall teachers spent $3.24 bn of their own money on their classrooms in 2023
Teachers Spent $3.24 bn of Their Own Money on Classrooms in '23 (Local Data Available)
by Michael Keany
Mar 25
Teachers Spent $3.24 bn of Their Own Money on Classrooms in '23 (Local Data Available)