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Marea
Joined: 01 Aug 2006
Posts: 17
Location: Ohio
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| Posted: Mon Oct 30, 2006 5:34 pm Post subject: If I take the UA course... |
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| will it be deductible on my business taxes as continuing education since I already have a bachelor's degree in accounting? I know I couldn't claim the course for tax return preparation course but I wasn't sure about the bookkeeping course. |
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Richard Noot
Joined: 20 Aug 2005
Posts: 877
Location: Minnesota
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| Posted: Tue Oct 31, 2006 10:50 am Post subject: Re: If I take the UA course... |
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Marea wrote: will it be deductible on my business taxes as continuing education since I already have a bachelor's degree in accounting? I know I couldn't claim the course for tax return preparation course but I wasn't sure about the bookkeeping course.
It depends on what your current situation is. If you are an employee and
the course would improve your current job skills it would be deductible
as a itemized deduction.
If you are currently a business owner then both the accounting course and the tax preparation course would be deductible as a business expense on sch c. (Iam assuming you would be self employed.
If you plan on using this course to START a new business then it would NOT be deductible. |
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Marea
Joined: 01 Aug 2006
Posts: 17
Location: Ohio
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| Posted: Tue Oct 31, 2006 11:16 am Post subject: |
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| Thank you, I needed that clarified. I am currently both an employee and business owner. |
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