Are Seminars Deductable? - Posted by Matt Skoglund

Posted by William Bronchick on March 01, 2002 at 07:38:05:

Seminars, training, and other educational services are deductible if:

  1. Required by your employer as a condition of employment (easy if you own your own corp), or

  2. Necessary for profession (e.g., “continuing education” for a real estate agent"), or

  3. To improve your skills in your current business or profession.

Are Seminars Deductable? - Posted by Matt Skoglund

Posted by Matt Skoglund on February 28, 2002 at 23:38:28:

I was wondering if seminars such as “How to get lenders fighting to give you money” and mentoring such as Mr. Bronchick’s programs are deductable to an individual. I assume they would be if one had his or her own business, but I wasn’t sure about an individual. I spent about $5500 on the above mentioned in 2001. Thank you.

Let me add… - Posted by JHyre in Ohio

Posted by JHyre in Ohio on March 02, 2002 at 06:03:43:

to Bill’s comments- you need to be “in business”. If you are not yet in business (presumably buying, selling or renting property), the expenses are start-up expenses. Such expenses are deductible evenly over 5 years once you start up in business.

John Hyre