When we say back-to-school most of us think of elementary or high school kids, but August is back-to-school month for many college students, and don't forget about those professional continuing education courses either. What tax breaks can you or your small business claim for higher education?
Higher Education & Taxes:
Higher education is expensive but in today's world it is necessary. Whether we're talking about a four year college education, a master's degree or professional continuing education, paying for knowledge is a necessity.
But, education does not have to drain your pocket book. Don't forget about your higher education costs come tax time. You might be eligible to deduct tuition related expenses for yourself, a spouse, or a dependent.
Continuing Professional Education:
We all want knowledgeable employees who are -up
Small businesses might be able to claim certain education costs as businesses expenses too- consult with a professional now to see how much you can save! KYB helps cultivate its employees knowledge base and encourages our accounting experts to travel to attend courses and seminars that keep them up-to-date in their field of expertise!
Small and Big Business retailers thrive during Back-to-School shopping, which NBC noted is the second largest shopping day of the year for Americans. Maybe we should change the name to "Back to Education" sale since more and more companies and individuals are continuing their quest for knowledge in order to keep up with our fast-paced, technology driven society.