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Taxes & other tips 2014

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  • 1. Taxes & Other Tips: Grace Chee Spend, Save, & Play Nice Nice LA Faculty Guild: Perks for Adjuncts April 28, 2014
  • 2. Spend! Classroom-related Expenses? Adjusted Gross Income, #23 Educator expenses, books, supplies, computers, hardware, software, ink, or other educational material important to teaching. Up to $250 would be subtracted directly from your income.
  • 3. Spend! Taking Classes? • Lifetime Learning Credit: 25% tax credit Form 8863
  • 4. Love, Love Credits! o Credits vs deductions o Credits are straight subtractions to your Tax!
  • 5. Student loan payments getting you down? 6+ units of classes = halftime Defer your government subsidized student loans @ 0% interest You can still make payments, but without paying interest to Sallie Mae
  • 6. Save! Saver’s Credit for Retirement 403B – pre-tax voluntary retirement plan through the LACCD I contribute every paycheck in addition to Calstrs, & receive $2-500 tax credit each tax year Up to $2000, but generally from $2-500 for me
  • 7. Spend & Play Nice Nice! Conferences! Networking Networking has benefits. Colleagues refer each other Chairs talk to each other Publishers contact me for o text reviews, o Networking dinners o Write text companion teaching material I have a business – taxes more complicated
  • 8. Job market got you down? Guild Sponsored EDD Workshops California’s EDD (Employment Development Department) Offers Up to $450/week or up to $8K/year in unemployment benefits when you fall unemployed or underemployed o LA Harbor (May 29th, Thursday) o LA Pierce College (June 2, Wednesday)
  • 9. Copyright 2014 Grace Chee © Taxes & Other Tips 1. Spend 2. Save 3. Play nice nice Grace Chee, all rights reserved, 2014. I am neither an accountant nor a tax attorney, but a colleague dedicated to serving you for the AFT Faculty Guild. Professor Chee does not endorse other slideshare presentations.

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