I know that one of the requirements for being able to deduct educational expenses, regardless of whether or not it qualifies the employee for a new trade or business, is that the employer requires the further education in order for the employee to retain his/her current employment status. In this case, the employee in question is the sole officer and employee of an S corporation. He has an Illinois Real Estate Broker's License and decided that it would be beneficial to also obtain a CPA license to use in conjunction with the RE Broker's license. Can he require himself to obtain a Master's of Science in Accountancy degree to get the 30 qualifying hours for the CPA exam, thus allowing him to deduct the expenses?
2006-10-13
14:52:45
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4 answers
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asked by
Anonymous
in
United States