by Answerbag Staff on March 10th, 2010

Answerbag Staff

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Is training tax deductible?

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  • by Jason Brick on March 10th, 2010

    Answerbag Experts

    Great Answer

    Professionally Researched. (What's this?)

    On One Hand: Many kinds of training are deductible.

    If a business spends money training its employees, that is a deductible expense. If an individual pays for training, that can be a deductible expense. Interest on student loans taken out for training is a deductible expense. Travel to receive training can also be deductible.

    On the Other: There are many exceptions and limits.

    An employee who pays for her own training usually can't deduct that expense, nor can a student deduct tuition under most circumstances. For every situation where training is deductible, there is at least one similar circumstance where it isn't.

    Bottom Line

    Generally, businesses that spend money to train their employees can deduct all the money spent. Individuals spending money on training may or may not be able to deduct some or all of their expenditures. It's best to check with your tax professional before making any plans based on this. Tax law is extremely complex.

    Source:

    Theresa Whittaker, Bookkeeper, Hillsboro, OR

    "Small Business for Dummies"; Eric Tyson; 2008

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