Get started with a FREE Consultation

408-942-6888

Your Partners for Success Since 1977

Blog

Deducting Education Costs

By: Theresa A. Smith

Education costs are on the rise, but you will be happy to know there are education tax deductions and credits that can help offset the costs.

Work related education expenses:
A deduction is available if the education maintains or improves the skills related to your trade or business. Educational costs are also deductible if the education is required to keep your position or job. Work related educational costs are not deductible if the education is required to get into the field or qualifies you for a new trade or business. If your educational costs are deductible under these tests, you can include the transportation costs involved. If you’re away from home for deductible education, you can include the costs of travel, meals (at 50%), and lodging as well. In the case of an employee, education expenses that are deductible under these tests may be claimed as an itemized deduction, but only to the extent the expenses, along with other miscellaneous itemized deductions, exceed 2% of the taxpayer’s adjusted gross income (AGI).

(more…)

I Have A Nanny – Does This Affect My Taxes?

By: Amber N. Stevenson

Nanny Tax Image

In our hustle and bustle lives, working 40 or more hours a week has become the norm, leaving limited time for taking care of duties at home. This has led to an increased need for a nanny, housekeeper, gardener, or perhaps all three!  What many people don’t realize, however, is that while their responsibilities at home may be going down, their tax bill could be going up.

(more…)

START YOUR FREE

CONSULTATION

Office Location

Crawford Pimentel
Certified Public Accountants
2150 Trade Zone Blvd. #299
San Jose, CA 95131
Phone: (408) 942-6888
Fax: (408) 942-0194
Contact Us
Google Analytics Alternative