Get the latest news, exclusives, sport, celebrities, showbiz, politics, business and lifestyle from The VeryTime,Stay informed and read the latest news today from The VeryTime, the definitive source.

Tax Deductions for College Instructors

32

    Clothing

    • College professors can deduct specialized clothing. Any clothing required for your job, which cannot be used for everyday wear can be deducted. Such clothing may include protective clothing such as lab coats and safety goggles, medical scrubs or special clothing needed for graduation ceremonies.

    Supplies and Equipment

    • College professors can deduct any expenses for supplies and equipment needed for their job. Such supplies may include pens, pencils, paper, art supplies, brief cases, computer software, day planners, grade books and lesson plan books. Equipment may include computers, printers, fax machines, conductor's batons, musical instruments, easels and scientific calculators.

    Travel

    • If you travel between more than one college campus, you can deduct mileage accumulated throughout the year. You can deduct mileage when traveling to conferences as well. In addition, you can deduct other travel expenses, such as plane tickets, hotel costs, cab fares and subway fares. You can also deduct conference registration fees and 50 percent of the cost of meals and entertainment while on business trips. The IRS advises that college professors can also deduct research-related expenses such as travel, equipment needed for research and books needed for research purposes.

    Home Office

    • If you complete some of your college professor duties from home, you may be able to take the home office deduction. This deduction allows you to deduct a percentage of your mortgage interest, real estate taxes and utilities. The percentage is based upon the percentage of your home that is used for work.

    Other Expenses

    • College professors may also deduct professional association memberships, teaching license fees and liability insurance premiums. You may also deduct the cost of professional journals subscriptions, educational books, business cards and gifts given to colleagues or students.

Source...
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.