ALBANY, N.Y. (NEWS10) – There are more than 200,000 teachers in New York that could be eligible for a tax break and not even know it.
“On average probably $300 to $400 a year,” Lindsay Foley, 1st Grade Teacher at Roessleville Elementary, said.
This is how much Lindsay Foley spends out of her own pocket every year on her first-grade class. According to U.S. Senator Chuck Schumer, this is not an unusual amount.
“New York teachers lay out about $1.6 billion in a two year period out of their pockets to help be better teachers,” Sen. Schumer said.
“You could have a little one come in and not have all their supplies unfortunately sometimes that happens,” Foley said.
The teacher tax deduction was passed in 2015 as part of the Protecting Americans from Tax Hikes Act. This bill is supposed to help teachers offset some of these out of pocket costs.
“We give charitable deductions for other forms of charity. This is also generosity and should be rewarded,” Sen. Schumer said.
The teacher expense deduction would allow teachers to deduct up to $250 every year from their tax bill, but they do need to save receipts.
“You do it without even thinking honestly,” Foley said. “You give your kids what they need because you love your kids. So, I’m glad to do it but the tax credit is something that might help out.”