Did you know that many continuing education costs may be tax deductible? Most professionals—from clergy members to airline personnel to educators—can deduct some continuing education expenses on their tax returns. These can be deducted as work expenses by taxpayers who opt to itemize their deductions.
To qualify, your education expenses must be for continuing education. This is defined as studies that are a legal or employer requirement for you to keep your job and/or your rate of pay. Continuing education can also be to improve or maintain your skills in your profession. Qualified continuing education costs can include tuition, books, supplies, and even certain transportation expenses.
Education costs related to meeting the minimum requirement of a job or courses to qualify you for a new field do not meet the definition of continuing education, and are not deductible.
Have questions about what types of educational expenses are deductible as continuing education? Taxation Solutions, Inc. can help you tackle your tax problems, simple and complex. Our experts are here to help you correctly file your tax returns, resolve issues with past returns, and generally keep you on the right track with the IRS.
If you have questions about continuing education and your taxes—or any other tax topics—don’t hesitate to give us a call today!