While many industries have been greatly affected by pandemic disruptions, the education sector has been altered dramatically.
Quarantines, exposures and virtual learning have affected everyone involved. Teachers. Staff. Students. Parents. Coaches. Childcare. Transportation.
We’ve read the studies and seen the effects of remote school, social distancing and COVID cancellations.
Everyone understands that we’re all just doing the best that we can with the hand we’ve been dealt. But the stress, worry and concern for our future generations of learners is felt.
One of the positive outcomes of the pandemic has been a narrowing focus of our priorities — and education remains top of mind for many.
Michigan K-12 Spending Bill
In Michigan, the $17 billion K-12 spending bill was signed on July 13.
Lawmakers are aiming to close the school funding gap between districts that has stretched for decades.
In years past, education funding has been continually slashed.
As a result, instead of all districts being funded equally by the state government, taxpayers have voted to fund millages and taxes earmarked for schools.
This has disproportionately affected poorer school districts, whose taxpayers do not have the funds to support schools at the same level as very wealthy districts.
Predictably, affluent districts offer their students more tutors, more extracurricular activities and better chances of attending higher education upon graduation.
With the new bill, $723 million of the allocation will ensure school districts across Michigan get the same baseline funding of $8,700 per student.
It’s a start toward the long-term goal of equality in education.
Tips for tax benefits for educators
A few states and school districts are now approving a one-time bonus to teachers and staff—essentially a stimulus check to educators for sticking it out through the pandemic.
It remains to be seen if Michigan will join this list.
As the school year begins, the IRS put together a helpful list of educator expenses that may be tax deductible. Included in the list are professional development course fees, books, supplies, computer equipment and software as well as other classroom materials. If you know an educator, make sure to pass along the linked article above.
We’re well prepared to help schools with a wide range of accounting and tax services. If you know a school administrator searching for the right CPA firm, direct them to Morgan & Associates for expert advice.