Archive for July, 2006

Considering an MBA – Learn the tax implications!

Tuesday, July 11th, 2006

Under Section 162, a taxpayer can deduct educational expenses as a business deduction if the coursework maintains or improves ones required job skills or if it is required to maintain ones job. This changed somewhat in 2005 when the Courts provided a somewhat less conservative interpretation of this regulation in the case of Daniel R. Allemeier v. Commissioner (TC Memo 2005-207).