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#2
03-12-2005, 12:41 PM
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 Re: S corp education expense "qornam[at]gmail.com" <qornam[at]gmail.com> wrote: - quote - > I am the sole employee of a S Corp. Can the company
I would just deduct them as continuing education; that's how I account for> re-imburse me for classes I took for maintaing my > skill/knowledge in current job? Can the company account for > these as normal expenses or do they need to be treated > differently for tax purposes. > thanks, > qornam all the CPE I take during the year. -- Tom Healy, CPA Boulder, CO Web: http://www.tomhealycpa.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
03-12-2005, 12:03 PM
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| Re: S corp education expense <qornam[at]gmail.com> wrote - quote - > I am the sole employee of a S Corp. Can the company
If it's for your job with that company, then yes, have the> re-imburse me for classes I took for maintaing my > skill/knowledge in current job? Can the company account for > these as normal expenses or do they need to be treated > differently for tax purposes. company pay it. If it's for a job with another employer, then no. -- Paul A. Thomas, CPA Athens, Georgia taxman at negia.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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03-12-2005, 12:03 PM
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| Re: S corp education expense qornam[at]gmail.com wrote: - quote - > I am the sole employee of a S Corp. Can the company
Your corporation needs to adopt what's called an> re-imburse me for classes I took for maintaing my > skill/knowledge in current job? Can the company account for > these as normal expenses or do they need to be treated > differently for tax purposes. "accountable plan", validating such in the corporate minutes. This way the corporation pays directly for your CPE's every year. ChEAr$, Harlan Lunsford, EA n LA Wed 9 Mar 2005 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
03-09-2005, 10:37 PM
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| S corp education expense I am the sole employee of a S Corp. Can the company re-imburse me for classes I took for maintaing my skill/knowledge in current job? Can the company account for these as normal expenses or do they need to be treated differently for tax purposes. thanks, qornam << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| corp, education, expense |
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