Writing off training/school on your taxes

pwjohnston

This was posted in another topic.

laidbackfreak wrote:

As an example If I want a training course, I pay for it and claim it (providing its a legitimate expense) rather than try to persuade my employer to pay for it and have to justify why I believe it will be of benefit.

So it just hit me, if I forked over the cash to take the VCP class (something like 3,500 to 6,000) I could write that off? I usually write off my MS/Cisco tests so I don't know why this would be any different, but just just seems like a lot to write off.

Hyper-Me

Shouldnt really be an issue.

I write off all of my exam fees every year, and the IRS has never said a word. Its covered under Work-Related Training.

undomiel

Definitely a question for your CPA.

pwjohnston

Well I found this;

Tax Topics - Topic 513 Educational Expenses

and that seems to support it. I mean I do run the ESXi server at work. I was just curious what others thought.

dynamik

Regardless, I'd never pay for both classes/fast track out of pocket; you're just throwing money away. Take one to meet the cert requirement if you have to, but leave it at that. You can find other resources to make up for the knowledge if you're really that interested.

tpatt100

I keep all my receipts even for books.

pwjohnston

dynamik wrote: »

Regardless, I'd never pay for both classes/fast track out of pocket; you're just throwing money away. Take one to meet the cert requirement if you have to, but leave it at that. You can find other resources to make up for the knowledge if you're really that interested.

No I totally agree. I've just been trying to wrap my head around the idea of doing the VCP. I see this as being an incentive since I know that my company won't pay for it. And since I'm a contractor I have to pay more in taxes, or better I'm responsible for my taxes, so having more to write off is a plus.

Any of you contractors out there in the states, what else do you write off? I never think about that stuff.