#1
December 12th, 2012, 05:01 PM
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Is an MBA Tax Deductible
Is the master of business administration course fees is Tax deductible please tell me about this because I want to take admission in reputed university for do this course education so ask you about this if you know then tell me
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#2
December 13th, 2012, 03:38 PM
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Re: Is an MBA Tax Deductible
Deducting MBA expenses can provide you with significant tax savingsbut there are certain eligibilities you should fulfill to get the tax deductible First, the education must be related to a trade or business which you are “carrying on.” Secondly, the education must not be a minimum educational requirement for qualification in your trade or business, nor can it qualify you for a new trade or business. Finally, the education must maintain or improve skills required in your profession. The application of the rules for deducting MBA expenses is uncertain. Each person must analyze their specific circumstances in evaluating whether or not they qualify to take a tax deduction for graduate school. |