Arthur Kamlet wrote:
- quote -

OH the humanity of it all! a RE FUND! gasp!
- quote -

Like I tell clients talking about their 401k's losses; you get no
sympathy on this side of the table! (grin)

(Is it over yet?
sigh.
No, one more day.
sigh.
Why did they wait till the last minute this year?
sigh.

ChEAr$,
Harlan Lunsford, EA n LA

--
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In article <UGOEl.28454$v8.405[at]bignews3.bellsouth.net> ,
Harlan Lunsford <lunstax[at]bellsouth.net> wrote:
- quote -

The IRS 1099-INT which might not even be called that, does not contain
the usual box numbers.

And I've seen more than one AARP client who used consumer tax software
only to answer an interview question about the Interest paid by IRS
on refunds and somehow exclude that interest from Ohio Income as if it
was from Treasuries or Savings bonds :-(


- quote -


Idon't like to admit it, but I did have a refund this year.

Who knew a year ago that I'd have a capital loss?
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

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removeps-groups[at]yahoo.com wrote:
- quote -

There are some interesting thoughts on the subject.

If someone was already an accountant but finally passed the CPA exam AND
after working for slave wages for another CPA for the required period of
time, then obtained his initial CPA license from the state, IRS would
maintaint that he is now in a NEW trade or business. Same for a
paralegal who passed the bar exam and then paid initial state bar fees
for full 'license' to ... to... well, do whatever it is lawyers do.

As for me, I was a tax preparer before I passed the EA exam way back
when (don't ask), so when I paid IRS my initial $25 fee, I deducted
same, since my profession did not change atall; only my prestige.

ChEAr$,
Harlan Lunsford, EA n LA

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lotax[at]hotmail.com wrote:
- quote -

ChEAr$,
Harlan Lunsford, EA n LA

however i doubt that Art would be lending our government any money.

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On Apr 12, 5:41 pm, kam...[at]panix.com (Arthur Kamlet) wrote:

- quote -

Certainly it's nice to know why. My guess is that if they allowed the
deduction, people would attempt to enter a new field, take a deduction
for education and licensing, and then find it doesn't work for them,
and yet they would have a deduction for a business that never took
off. Well, I don't see anything wrong with it, because they tried
(and failed). Maybe the politicians were trying to close a loophole
when they passed this law. Who knows? History is tough to research
on google.

- quote -

What if you practice accounting for your first year without a license
or without taking courses. When you buy a license for your second
year of business or purchase some classes, is the license fee or
education deductible?

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Arthur Kamlet wrote:
- quote -

I understood/understand that -- it was intended as a rhetorical "why" as
a comment, not a question.

- quote -

[elided for brevity]

That's the quote I had just pasted from the link, yes...

--

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Art, does Treasury send you a 1099 at the end of the year? <gr
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In article <grtqjt$sbl$1[at]aioe.org> , dpb <none[at]non.net> wrote:
- quote -


You don't ask Why? The answer is Because.


For those not adventurous to search the link it says


Begin Quote


Professional Accreditation Fees

You cannot deduct professional accreditation fees such as the following.

+ Accounting certificate fees paid for the initial right to practice
accounting.

+ Bar exam fees and incidental expenses in securing initial admission
to the bar.

+ Medical and dental license fees paid to get initial licensing.


End Quote
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

martin lynch wrote:
....

- quote -

That's IRS Pub 529 on the subject

http://www.irs.gov/publications/p529...blink100027032

OTOH, you _can_ deduct membership fees to professional organizations,
etc., ...

As a lapsed/former PE, I didn't know the proscription when filing first
time nearly 40 years ago, if it was so then as well. I've just learned
of it in this thread, in fact, so I'd have thought it would have been an
obvious business expense but lo! obviously not at least for the first
go. I fail to see the "why", though...

--

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Apr 11, 11:15*pm, "D. Stussy" <s...[at]bde-arc.ampr.org> wrote:
- quote -


Well, the fee for my initial dental licensure was $250. It costs $150
to renew. So it sounds like it is not deductible?

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"Arthur Kamlet" <kamlet[at]panix.com> wrote in message
news:grrjp8$45v$1[at]reader1.panix.com...
- quote -

If the cost of the first is the same as the cost of the renewals and for
the same term, I disagree. It's a regularly recurring cost.

I think Mr. Kamlet is confusing an educational expense with a general
business expense, in that the former is deductible only for a current
profession when it doesn't qualify one for a different job.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <f7b8c3a5-2d96-4132-8fdc-5cadbffda01c[at]j12g2000vbl.googlegroups.com> ,
martin lynch <odiegoogle[at]yahoo.com> wrote:
- quote -




Sure.




- quote -


In general, a first professional license is not deductible, but
renewals are.
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I am a licensed dentist, and had just graduated from dental school in
2008.

I worked for two days as an independent contractor at a dental office.
I am reporting this in Line 12on form 1040, and also submitting
Schedule SE and Schedule C.

I have two questions:

Can my malpractice insurance be included as one of my business
expenses? I should note that I purchased a short term malpractice
insurance, specifically to be used only for these two days I worked at
the office.

Can my state dental licensure fee be included as a business expense?
I should note that the state license is valid for 16 months, BUT
during those 16 months, I ONLY worked for those two days at the dental
office. I have NOT worked anywhere else as a dentist in that 16 month
period.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >