Does TurboTax offer a special discount for teachers? TurboTax does not offer a specific discount for teachers, but all educators and the public can save 10% on TurboTax online products through this exclusive link during tax season:
TurboTax for Teachers: Best Discount | Which Edition? | Best Deductions
Best TurboTax Discount for Teachers:
While this discount is not exclusive to teachers, the good news is that you won’t have to verify that you are currently employed as an educator to get the savings!
Tip: The best TurboTax discounts are early in the tax season, and after March 15th they raise their prices!
Which Version of TurboTax is Best for Teachers?
Educators from California to New York will find that the TurboTax Premium edition is probably best for their tax needs. That’s because their cheaper Deluxe Edition does not accommodate important deductions like your mortgage, investments, and other tax deductions related to the teaching profession.
4 Best Tax Deductions for Teachers Using TurboTax:
Here are four tax deductions that teachers can take advantage of when filing their taxes with TurboTax this tax season:
1. Educator Expense Deduction
Teachers can deduct up to $300 (or $600 if both spouses are educators) for out-of-pocket classroom expenses with TurboTax. This covers items like books, supplies, and technology used directly for classroom purposes. The best part is that you don’t have to itemize to claim this deduction with TurboTax, making it an easy win for many teachers who often spend their own money on classroom essentials.
Tip: Keep receipts for anything you purchase for your classroom to ensure you can claim the full deduction.
2. State-Specific Credits
Many states offer additional tax credits or deductions for teachers, often focused on classroom expenses or continuing education. For example, some states provide credits for teachers who work in underserved areas or in specialized fields like special education.
Tip: Check with your state’s tax authority to see if any teacher-specific credits apply to you, as these can provide significant savings.
3. Continuing Education Credits
If you’re taking courses to advance your teaching career or maintain certifications, you might qualify for the Lifetime Learning Credit. This credit which allows teachers to claim up to $2,000 in education-related expenses, including tuition, fees, and materials. The credit can help offset the cost of professional development, which is often required for educators.
Tip: You don’t need to be pursuing a degree to claim this credit—professional development courses count too!
4. Mileage Deduction for Work-Related Travel
If you travel for work-related activities, like attending conferences or meetings outside your school, you may be eligible to deduct mileage. The IRS standard mileage rate for 2023 is $0.655 per mile. While commuting from home to school isn’t deductible, any work-related travel outside of that can be.
Tip: Keep a log of your work-related trips and include details like the date, destination, and reason for the travel to ensure accurate deductions.
How Much Money Can Teachers Save on TurboTax?
If you file your taxes before March 15th of this year you can get the best pricing on TurboTax plus an extra 10% discount on all of their online products including Live Assistance. That’s a combined savings of up to $20 or more!
Why Should Teachers Consider Our Discount for TurboTax?
Educators are notoriously underpaid for the work that they do in and out of the classroom. In fact, most teachers spend a lot of money out of pocket on their curriculum and classrooms that is not deducted when filing their taxes.
Plus, there are other expenses like snacks and decorations for your classroom and replacing that dress that one of your students threw up all over!
For this reason, we recommend that teachers take advantage of every deduction and discount possible during tax season. While we can’t help teachers avoid taxes completely, we can at least help you save the most money possible when you file with TurboTax Online.
In Summary…
While TurboTax doesn’t offer a specific discount for teachers, the software provides plenty of resources to help educators take advantage of these valuable deductions and credits. By leveraging these tax breaks, teachers can reduce their taxable income, ultimately putting more money back into their pockets during tax season.
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