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Pulaski County Schools

Somerset KY

Finance News

  • The Internal Revenue Service has advised teachers to save their receipts for purchases of books and classroom supplies. These out-of-pocket expenses may lower their taxes. The new deduction is available to eligible educators in both public and private elementary and secondary schools. They must work at least 900 hours during a school year as a teacher, instructor, counselor, principal or aide. Taxpayers may subtract up to $250 of qualified expenses when figuring their adjusted gross income (AGI). They will not need to itemize deductions to get this benefit. Prior to the change in the law, educators could take such expenses only as miscellaneous itemized deductions, which must be reduced by two percent of AGI. Educators who excluded education savings bond interest or payments from qualified tuition programs, or made tax-free withdrawals from an education savings account, will be able to claim the new deduction only to the extent their qualified expenses exceed the tax-free amounts.
  • Under HB 637 everyone who subs in any capacity will pay into the retirement system- a 9.8% match for certified personnel.
  • Effective immediately, classified personnel must work or use sick time equaling to 80 hours per month or lose health insurance coverage. Certified must work or use sick time equaling to 7/10=14.15 days per month or health coverage will be discontinued.