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Deductible Education Expenses

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December 18, 2014
Author: NCH

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You may deduct the cost of “ordinary and necessary” expenses paid for employee education and training. You may also deduct the cost of education for the business owners if you can show that it “maintains or improves skills required in your trade or business,” or that it is required by law or regulations for maintaining a license to practice, status, or job. For example, professionals can deduct costs for continuing education. Education expenses you incur to meet the minimum requirements of your present trade or business, or those that qualify you for a new trade or business, are not deductible. This is true even if the education maintains or improves skills presently required in your business. Deductible educational expenses include books, tuition, and travel costs to and from school.

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