As you start the new school year as a teacher, you want to make sure that you are keeping track of everything that you buy and donate to your classroom. All of those classroom expenses can help you reduce your taxes at the end of the year. Additionally, there are other ways that you can save on your taxes as a teacher.

#1 Keep Track of Items You Purchase

The government recognizes that many educators purchase supplies out of their own pocket. If you fall into this category, you may be able to deduct this expense from your taxes. As an educator, you can deduct up to $250 for the materials that you purchase from your classroom. This may not cover everything that you purchase for your classroom, but it is a starting point.

Make sure that you keep track of all of your receipts. Make copies of your receipts and document exactly what you purchased and how you will use it in your classroom. You will be able to then deduct up to $250 each year on your taxes for educator expenses.

#2 Keep Track of Donations

There is no denying that many teachers spend more than $250 on their classroom. That is why you may want to consider donating items to your school and thus your classroom.

Keep in mind that anything you donate should be items that will be used up during the school year and will stay at the school, such as crayons and glue. Or they should be items that you are willing to leave at the school if or when you go to a different school since you are making the donation to your school. For example, if you purchase a set of books that you want to take with you, that would not be a donation. It is

You will also need your school's help with this. They will need to provide you with a receipt that states what you donated and the value of the donation.

#3 Document Your Education Expenses

As a teacher, you have to make sure that you continue your education. In most states, you are required to take a certain number of college or vocational classes or courses to equal a certain number of training hours per year in order to maintain your licenses. You may also want to take classes on your own in order to learn new teaching strategies and techniques in order to advance your practice.

You can deduct up to 20% of your tuition and fees, up to $2,000 per year, using the Lifetime Learning Credit on a non-itemized tax filing. You can also itemize your taxes in order to deduct a greater percentage of your educational expenses that are related to your work.

As a teacher, make sure that you keep track of all items you purchase for your classroom, items you donate to your school, and the cost you incur to continue your own education. You can deduct all of these expenses and use them to lower your taxes and put more money back in your pocket. For more information, contact a professional like Joseph Hanlon CPA.