Tax Deduction Business Travel
February 16th, 2010Question: Are CLE courses tax deductible?
I understand that Continuing Legal Education courses (CLE’s) are deductible, as are professional dues and unreimbursed travel expenses…as a business deduction.
However, could you use the Lifetime Learning Credit? And would you be better off doing so?
Answer: If you are a solo practitioner, they would be business expenses on your schedule C, not subject to the 2% floor. If you are in a partnership, get the partnership to pay, even if it reduces your draw and have the deduction specially allocated to you on your K-1. If you are an employee and you had to pay for the CLE, you will be subject to the 2% floor.
Items on Amazon Right Now for Tax Deduction Business Travel:
| | Julian Block’s Tax Deductible Travel and Moving Expenses: How to Take Advantage of Every Tax Break the Law Allows $5.99 Do you travel for business reasons-say, to see clients or customers or to attend conferences? Moving because of a job change? Travel to obtain medical care from doctors and hospitals or perform volunteer services on behalf of charitable organizations like religious institutions and schools? When Form 1040 time rolls around, lots of perfectly legal travel write-offs are available-but only for those… |
| | Car, Travel & Entertainment and Home Office Deductions CPE Course (2006-2007) $32.95 Almost all business taxpayers, from the small sole proprietorship to the largest international corporation, incur business expenses for cars and travel and entertainment. In addition, in this era of long work hours and home-based entrepreneurs, it is estimated that more than 22 million people do some job-related work in their homes. Cars, travel and entertainment, and home office expenses are com… |
| | Tax implications of the business use of airplanes.: An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on October 1, 2002. The length of the article is 1338 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTit… |
Deduction rules not entertaining
Taking a client out for lunch is one of the most basic business activities there is. And it’s one that can run a small-business owner afoul of the IRS.
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