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 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


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 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.


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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


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 Post subject: Monily Bookkeeping
PostPosted: Wed Nov 01, 2017 8:08 am 
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Joined: Wed Oct 04, 2017 11:55 am
Posts: 478
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


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 Post subject: Re: Tax Deductibility
PostPosted: Tue Jun 12, 2018 10:03 pm 
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Joined: Thu May 31, 2018 11:29 pm
Posts: 9
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
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