NWR - Teachers

Not to be nosey, but I'm so curious about this. I know someone who is a teacher. Not for anything, but their tax refund is enormous! I mean, I know 6 figure people coming out with these kinds of refunds and I was told they don't make near 6 figures.

I've been considering going back for my second master's so I can teach in NY. I felt for a long time that taking additional student loans was a bit of a financial hardship. However, I got significantly less - almost even owed the state... of a tax refund and my salary is close to that of a teacher, but I'm just a salaried corporate worker for a large company. I know teachers get great state benefits and pension, but are there amazing write offs/deductions too?

What am I doing wrong? Are there special tax deductions that only teachers qualify for? I'm not trying to be nosey - but maybe the additional loan would be worth the money? I even had write offs for things like job searching and my current student loan (that thankfully offset my second p/t job which almost led to my owning some $).

Just curious. I keep saying that I'm too poor to go back to school - but seriously - maybe that's the one occupation that would be worth it...

well, i'm a speech teacher at a school in NJ, and i just have to say that yes, the benefits from teaching and the taz breaks may be good, BUT it DEFINITELY is not for everybody.
it really is difficult sometimes dealing with the kids all day, and all the planning that goes on outside of 'work' hours. also, now with the NCLB, there is a lot of pressure on classroom teachers for the kids to do well on all the state testing....
before you go back to school for teaching, i would DEFINITELY spend somet time in the classroom with your friend or his fiance to see if this is really something you want to do.
its a GREAT job, but its definitely not for everybody, and definitely not all about summers off and tax breaks...

ETA: that sorry if this post sounded bitchy, but i just have seen so many people go into teaching becasue the hours seem great, and summers off... but be shocked when it turns out to be not what they thought...

I am a speech teacher (but on a personal leave this year to finish my masters) but every year I took a lot of deductions and got a pretty nice refund. My accountant always said that teachers can take the most in the form of deductions. He counted/considered so many of my exspenses as job related. I always did my annual donation to Salvation Army for clothes and other items. I think but can't be positive if he used my gas receipts, mileage, cell phone bills, graduate school loans, materials and supplies purchased for work, textbooks for graduate school.

ETA: to be a little clearer on how my accountant took my deductions is -- if I went to an event with co-workers you ultimately talk about work -- it becomes a work related exspense, like my cell phone bill I would talk to co-workers about work it became a work related exspense. hope that helps.

what do you guys mean by 'speech teacher?'

you just work with your TSHH or TSSLD?

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Posted by hayleyandsteve

what do you guys mean by 'speech teacher?'

you just work with your TSHH or TSSLD?

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I graduated from my undergrad program in 2000 with my TSHH and I'm finishing my masters in August to be a speech pathologist. Can't wait!! I want to start looking for jobs and have an income again

are you an SLP?

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Posted by fallinlove91407

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Posted by hayleyandsteve

what do you guys mean by 'speech teacher?'

you just work with your TSHH or TSSLD?

---

I graduated from my undergrad program in 2000 with my TSHH and I'm finishing my masters in August to be a speech pathologist. Can't wait!! I want to start looking for jobs and have an income again

are you an SLP?

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i'm finishing my masters in Mayyyy then still have to do my CFY before getting my license and CCCs.... where do you go to school?

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Posted by ML110

well, i'm a speech teacher at a school in NJ, and i just have to say that yes, the benefits from teaching and the taz breaks may be good, BUT it DEFINITELY is not for everybody.

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I'm sorry - I didn't mean it that way. I worked with kids too as a coach and really loved it - it never felt like work even though I'd be dead tired from my corporate day job. I enjoy teaching and always did better in the classroom than in the office - I used to teach for my assistantship in univerisity career services - I had a natural knack for working with young people. Unfortunately, every job has it's downs - I hate - I mean absolutely hate, my f/t job with a large company. I'm hoping to get out of it in the coming months, but know that I missed my calling when I got my MS in higher ed services (which I don't even use at the moment - no money at all in colleges) rather than in K-12. I could have coached and taught and been very happy. One thing that everyone convinced me (wrongly of course I realize now) was that teacher=no income. Honestly, between all the job hopping I did and everything else - I would have been ahead of the game if I had listened to my heart rather than trying to chase a corporate buck. You don't even get to put on a nice suit anymore in an office - everyone thinks you are going on a job interview... seriously... it's insane! Not to mention 8 paid holidays a year and 2 weeks vaca - this is the corporate world... it's horrible. So it's not fun in the corporate environment, most of us don't make that much money (the big wigs take it all) and on top of that you get abused by your higher ups, your customers and these days even co-workers have no respect for one another. So it's the same crap everywhere... just would be nice to do something somewhat rewarding/give back a bit and something I'd enjoy - not to mention the time off and of course any tax benefits. I think teaching is a great career and admire those who were smart enough to take it on! Teacher's deserve the money that's for sure... and some even like the job too - the best jobs are those that don't feel like jobs - not everyone is fortunate enough to find their passion right away. Some of us pass it over due to the path other influences want us to take - it's sad really... Fortunately I love my other jobs... I get to help people... One day those 2 things will be my f/t job.

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Posted by Mrs.Ptobe

What am I doing wrong? Are there special tax deductions that only teachers qualify for? I'm not trying to be nosey - but maybe the additional loan would be worth the money? I even had write offs for things like job searching and my current student loan (that thankfully offset my second p/t job which almost led to my owning some $).

Just curious. I keep saying that I'm too poor to go back to school - but seriously - maybe that's the one occupation that would be worth it...

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There's a $250 deduction for supplies. Additional tuition (your master's, for example) is also deductible.

It's very possible that these people have a very good accountant. FH teachs HS math, and he's getting next to nothing back

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Posted by hayleyandsteve

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Posted by fallinlove91407

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Posted by hayleyandsteve

what do you guys mean by 'speech teacher?'

you just work with your TSHH or TSSLD?

---

I graduated from my undergrad program in 2000 with my TSHH and I'm finishing my masters in August to be a speech pathologist. Can't wait!! I want to start looking for jobs and have an income again

are you an SLP?

---

i'm finishing my masters in Mayyyy then still have to do my CFY before getting my license and CCCs.... where do you go to school?

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I'l be done in August!! Can't wait -- then I too have to do my CFY. I go to C.W. Post. I'm trying to start studying for my comps and the Praxis but I somehow always seem to get distracted Hmm LIW. My exams are at the end of April, when are yours?

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Posted by Munchkn16

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Posted by Mrs.Ptobe

What am I doing wrong? Are there special tax deductions that only teachers qualify for? I'm not trying to be nosey - but maybe the additional loan would be worth the money? I even had write offs for things like job searching and my current student loan (that thankfully offset my second p/t job which almost led to my owning some $).

Just curious. I keep saying that I'm too poor to go back to school - but seriously - maybe that's the one occupation that would be worth it...

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There's a $250 deduction for supplies. Additional tuition (your master's, for example) is also deductible.

It's very possible that these people have a very good accountant. FH teachs HS math, and he's getting next to nothing back

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I'm a teacher and those are pretty much the only deductibles that I get. My tax returns are okay, nothing fabulous! I would agree that it is the result of a great accountant, more than a teaching job.
And there's much more involved with being a teacher than the seemingly great perks. B/c if we didn't get those- we'd be killing people. It's sometimes a very stressful but ultimately rewarding job. Not to be considered just b/c you think that you'll get a good refund. B/c that only comes once a year!

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Posted by fallinlove91407

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Posted by hayleyandsteve

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Posted by fallinlove91407

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Posted by hayleyandsteve

what do you guys mean by 'speech teacher?'

you just work with your TSHH or TSSLD?

---

I graduated from my undergrad program in 2000 with my TSHH and I'm finishing my masters in August to be a speech pathologist. Can't wait!! I want to start looking for jobs and have an income again

are you an SLP?

---

i'm finishing my masters in Mayyyy then still have to do my CFY before getting my license and CCCs.... where do you go to school?

---

I'l be done in August!! Can't wait -- then I too have to do my CFY. I go to C.W. Post. I'm trying to start studying for my comps and the Praxis but I somehow always seem to get distracted Hmm LIW. My exams are at the end of April, when are yours?

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Very nice! I go to Hunter... I actually took the Praxis and passed in January, so that's one worry out of the way!

yup- I'm a teacher, making more than FH, and he got more back than I did (we got about 2000$ together). He got more because he just opened up one of those retirement funds- 401k, and that helped him a lot. Perhaps teachers get better deductions because $ from our paycheck (for the 1st ten years) automatically goes into a retirement fund, thus, less taxable income.

Financially, I think teaching is worth it if you can get into a public school on LI- I am certainly not complaining about my salary- the downside is that is is VERY difficult to earn a position, and you have to be willing to be a substitute if you don't get a full time position (people in my district subbed for 3-5 years before getting a position). I agree with others who said it is a wonderful opportunity, but you have to be sure it is for you- I usually work from 7-4, and then do another 2/3 hours of grading and planning- it is a huge commitment.

But, if you are interested, I say go for it, because it is the most rewarding job I can imagine. You can try Stonybrook's program- you can take some of your classes online, and their entire master's degree is less than 15,000$!

teachers get no more tax returns than anyone else. actually, when we put my salary into the equation, our tax return went DOWN several thousand dollars. the same happens to my FIL when MIL's salary is included.

become a teacher because you want to be, not because of a possible tax refund.

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Posted by SummerBride06

teachers get no more tax returns than anyone else. actually, when we put my salary into the equation, our tax return went DOWN several thousand dollars. the same happens to my FIL when MIL's salary is included.

become a teacher because you want to be, not because of a possible tax refund.

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Well said Carol!

teachers qualified this year for a standard $250 deduction. thats not alot!

or they can itemize and deduct for their business expenses (anything they had to buy for work their job didnt pay for), but anyone who is employed can do that basically.

getting a big tax refund shouldnt be a reason to choose a job, especially teaching!

eta: and yes you can deduct student loan interest as well - but again, going back to school is a lot of work and shouldnt be done to get a tax refund.

I am sure she's not considering going into teaching for JUST the tax break alone....she was just curious about it. Like she said, she was considering going back to school anyway.

I don't think I got more money than usual back this year, as it was my first year of teaching.

To me, student loan debt is worth it. I kinda wish I could've afforded paying my way through grad school without going the loan route (since I already had a helluva lot to pay off for undergrad). Education is always a good investment!