Accounting & Bookkeeping & Small Business Forum

Accounting, Bookkeeping, Marketing, and Small Business Resource
It is currently Sat Feb 23, 2019 6:30 am

All times are UTC - 7 hours

Post new topic Reply to topic  [ 5 posts ] 
Author Message
 Post subject: Tax Deductibility
PostPosted: Sun Mar 21, 2004 8:44 am 
I did some bookeeping work for a client in 2003 and received a 1099 Misc showing income earned in box 7. I took the Universal Accounting Course in 2003 and received my Professional Certification. Can I deduct the expense of this course against the income received as a bookkeeper in 2003. Thanks

 Post subject: RE: Tax Deductibility
PostPosted: Tue Apr 06, 2004 6:21 pm 
The rule is, if the course enhances your current career then it may be deducted as an employee expense on Schedule A in the Misc Deductions.

You could also deduct it as a Start-up expense for your new company.

PostPosted: Thu Feb 03, 2005 5:17 pm 
unless you were already a bookkeeper and used the course to enhance your skills. If you used the course to aquire new skills for a new line of work, then it's not deductible: "Education you need to meet the minumum education requirements for your present trade of business is not qualifying work related education." "Education that is part of a program of study that will qualify you for a new trade or business is not qualifying work related education." IRS Pub. 17 for 2004, pp. 203-204. Jennifer

 Post subject: Monily Bookkeeping
PostPosted: Wed Nov 01, 2017 8:08 am 
Qualified Contributor

Joined: Wed Oct 04, 2017 11:55 am
Posts: 477
Monily started as a simple bookkeeping processing organization. However, in time, it acquired professional expertise and expanded business operations bringing more effective talents onboard.
Organize your finance books

 Post subject: Re: Tax Deductibility
PostPosted: Tue Jun 12, 2018 10:03 pm 
Junior Member

Joined: Thu May 31, 2018 11:29 pm
Posts: 8
hi. Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income.
ISO 14001 Certification cost in Qatar
ISO 22000 in Afghanistan

Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 5 posts ] 

All times are UTC - 7 hours

Who is online

Users browsing this forum: No registered users and 3 guests

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Powered by phpBB® Forum Software © phpBB Group