Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

I took a real estate course for my real estate investing…

I took a real estate...
I took a real estate course for my real estate investing business and was told the course was fully tax deductible towards the business. Is this true? Are there any prerequisites to being able to deduct the course against my LLC which I’ll use as a flow-thru entity?
Show More
Show Less
Ask Your Own Tax Question
Answered in 18 minutes by:
3/7/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,660
Experience: Taxes, Immigration, Labor Relations
Verified

We need to be very careful with such promises especially when large amounts are invested.

Specific requirements are listed in IRS publication 970

https://www.irs.gov/pub/irs-pdf/p970.pdf

page 58 - Business Deduction for Work-Related Education

.

You can deduct the costs of qualifying work-related edu-cation as business expenses. This is education that meets at least one of the following two tests.
--The education is required by your employer or the law to keep your present salary, status, or job. The required education must serve a bona fide business purpose of your employer.
--The education maintains or improves skills needed in your present work.
However, even if the education meets one or both of the above tests, it isn't qualifying work-related education if it:
--Is needed to meet the minimum educational requirements of your present trade or business, or
--Is part of a program of study that will qualify you for a new trade or business.

.

Let me know if you need any help with determination.

Ask Your Own Tax Question
Customer reply replied 1 month ago
Greatly appreciated. I will keep that in mind.

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all Social Security / Tax related issues
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,660
Experience: Taxes, Immigration, Labor Relations
Verified
Lev and 87 other Tax Specialists are ready to help you
Ask your own question now
Was this answer helpful?
Ask Lev Your Own Question
Lev
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,660
32,660 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

Lev is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,451 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

56 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,124 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
My business expenses are less than my standard deduction. I
my business expenses are less than my standard deduction. I am an independent contractor. Can I deduct both? … read more
Cole Parker
Cole Parker
Principal/CPA
Bachelor\u0027s Degree
83 satisfied customers
Tax question: Can you take a deduction as a business expense
Tax question:Can you take a deduction as a business expense the cost of medical treatment due to a work related injury (piano teacher needing chiropractic treatment due to hand injury)? Please provide… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
Is there a donation amount limit for tax deduction when you
Is there a donation amount limit for tax deduction when you donate money to missionary organization?… read more
Andy4712
Andy4712
Attorney
Doctoral Degree
93 satisfied customers
Are property taxes on a first and second home tax deductible
Are property taxes on a first and second home tax deductible in the same year on schedule A?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
45 satisfied customers
I live in state and would like to take a sales tax deduction
I live in Washington state and would like to take a sales tax deduction (made a major purchase). My local sales tax is 10.10%. I paid 10.30% taxes on the boat in another town in state. I'm filing 1040… read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,906 satisfied customers
Is room and board for live-in nanny tax deductible? I have a
Is room and board for live-in nanny tax deductible? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,906 satisfied customers
Are any closing costs tax deductible? Bought a new
Bought a new construction home in April of 2017, Mortgage Interest Statement has mortgage interest and mortgage insurance premiums on the statement to deduct. 0 points. Closing statement has insurance proration, prepaid interest, Homeowner's insurance and property taxes for 2 months. Are these deductible? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,906 satisfied customers
I have question regardind state tax deductions for
I have question regardind state tax deductions for 2017.Besides the state tax I paid(NJ). for 2017 I am also paing the ste monthly for additional tax oed for unreported income for 2011,2012 and 2013.S… read more
Dr. Arthur Rubin
Dr. Arthur Rubin
Doctoral Degree
172 satisfied customers
Does this qualify for a charitable or other tax deduction: I
Does this qualify for a charitable or other tax deduction: I shot some video footage for client A. I donate the footage to Client B which is a 501c non-profit. Client B will use the footage for market… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
Is there a tax deduction of about $600 for a senior making
Is there a tax deduction of about $600 for a senior making less than $30,000 … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,906 satisfied customers
Can C-corporation deduct as business expense money paid for
Can C-corporation deduct as business expense money paid for life insurance policies that were purchased to fund bye-sell agreement? The Owner and the Beneficiary of this policy is 50% shareholder of t… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Tax deductions. Can i deduct the conversion on my income
tax deductions JA: The Accountant will know how to help. Please tell me more, so we can help you best. Customer: can i deduct the conversion on my income taxes JA: Is there anything else the Accountan… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
What tax deductions for a professional who contributes
what tax deductions for a professional who contributes significantly to dependent elderly parent? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
If I start my own business what tax deductions are available
If I start my own business what tax deductions are available if I use the money I get from my job to fund the business?Does it matter where the money used to fund the business comes from when it comes… read more
Gerald, Esq
Gerald, Esq
Juris Doctor
111 satisfied customers
Is stay ina nursing home for rehab tax deductible? Missouri,
is stay ina nursing home for rehab tax deductible? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
Am I going to be able to deduct business expenses, such as
Am I going to be able to deduct business expenses, such as mileage etc. as a 1099 employee. I am a salesperson and have a home office. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,906 satisfied customers
20% tax deduction for pass through entities is limited for
Hi there. 20% tax deduction for pass through entities is limited for service providers like doctors. My question is: An S-Corporation provide medical billing services like sending claim, collecting mo… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,043 satisfied customers
As per the new tax law, the property tax deductions of 10000
As per the new tax law, the property tax deductions of 10000 is it per property or per tax payer per property?If both wife and husband file together can they claim 20000 towards one property or just 1… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
45 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x