[Anonymous]

I highly doubt it.. but I’m not sure.

[LADavid]

If you use your tax books to help with your personal taxes you could likely justify counting them as “expenses connected with the determination of tax” and have a misc. itemized deduction on Sch. A of F #1040 (subject to the 2% floor). You would really have to use them for this purpose though to do it….

AUD - 7/31 - 83
FAR - 8/27 - 91
BEC - 10/30 - 90
REG - 11/27 - 95

[Anonymous]

Becker teaches you in REG that you can't deduct becker on your taxes because technically it “qualifies you for a new position. I say bull! My job won't even give me a raise when i pass!

[Anonymous]

yeah.. I get nothing too! I'll have to leave the company in order for my CPA to benefit me or to be able to put it to good use!

[LADavid]

I wasn't thinking of the new position aspect, since I'm a staff (tax) accountant trying to get the CPA exam finished so that I can stay a staff (tax) accountant…

And my earlier post was somewhat in jest, though there is probably someone out there (not me) who could really claim a misc. itemized deduction with the tax books and do it legitimately…

AUD - 7/31 - 83
FAR - 8/27 - 91
BEC - 10/30 - 90
REG - 11/27 - 95

[75 CPA]

The IRS says that there are no tax deductions unless the IRS says that it is a tax deduction!

[VAactgGrad]

IMO – the least *invalid* way to deduct the CPA studying material is to start your own proprietorship (no required paperwork filings), and explicitly indicate in the company policies or someother company documentation that a CPA is a required additional education for your job (not minimum required- per IRS). I think this may be defendable under the IRC that (1) the education is required to keep your present salary/status/job; (2) the requirement serves a business purpose of your employer; and (3) the education is not part of a program that will qualify you for a new trade or business. The third point is the problem causing area, since the CPA may qualify you for a new trade. But, what if you are an EA who is already qualified to prepare taxes and that your sole proprietorship is to prepare taxes? No new trade there (maybe ?). If Lori Singleton Clark can claim triumph over the IRS, maybe this is worth a try. Plus, you can deduct other related business expenses and startup expenses on your schedule C.

[Author]

Replies