Professional Skills and Tax Expenses

Professional skills certification expenses are only deductible if they maintain or improve your skills or meet legal or employer requirements for you to maintain your current employment status or pay level. Accordingly, if you are pursuing your CFA or certifications in other professional skills in order to begin a new career or position, the costs will generally not be deductible.

Like most tax issues, there are several factors to consider. We highly encourage people to schedule time with a licensed professional to have all your tax-related questions answered. For more information regarding deductible educational expenses visit here and here. And for digestible information and practical tools to better understand the tax landscape contact us.

If you’re looking for more financial help, visit https://www.nthdegreecpas.com/contact/