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Author Topic: LSAT, LS Apps and Taxes  (Read 1843 times)

nathanielmark

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LSAT, LS Apps and Taxes
« on: June 08, 2004, 11:36:50 AM »
I am saving every receipt for LSAT prep materials, LSAT registration, LSDAS registration, LSDAS reports, my LSAT timer, and all application fees.  I am planning on deducting all of this (which will probably come close to $1000) as educational expenses.

you guys doing the same?

Ginatio

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Re: LSAT, LS Apps and Taxes
« Reply #1 on: June 08, 2004, 11:41:20 AM »
I had a post about this awhile ago... I'm planning on claiming them on my 2004 taxes. I don't think you need the receipts and *&^% unless you're audited, in which case I think all the proof I need is online--in fact, I don't think I have a single physical receipt.

jacy85

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Re: LSAT, LS Apps and Taxes
« Reply #2 on: June 08, 2004, 11:59:16 AM »
I had no idea they were deductable...

Hrm...

Tobias Beecher

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Re: LSAT, LS Apps and Taxes
« Reply #3 on: June 08, 2004, 01:27:01 PM »
@#!* i'd deduct them too..

so far i've spend close to 100$ on all the prep books alone....

dsong02

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Re: LSAT, LS Apps and Taxes
« Reply #4 on: June 08, 2004, 01:28:20 PM »
I had a post about this awhile ago... I'm planning on claiming them on my 2004 taxes. I don't think you need the receipts and *&^% unless you're audited, in which case I think all the proof I need is online--in fact, I don't think I have a single physical receipt.

you wont need receipts unless your expenses are greater than $250 (i think thats the figure).
'why does it hurt so much when i poke it?'

jgruber

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Re: LSAT, LS Apps and Taxes
« Reply #5 on: June 08, 2004, 01:30:26 PM »
strictly speaking you never need proof (receipts) unless you are audited.
hell, you don't even need to keep copies of your return

But I still don't think these are allowable deductions.

But for those who have already filed and did not deduct and want to deduct, you can always file an amended return.

dsong02

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Re: LSAT, LS Apps and Taxes
« Reply #6 on: June 08, 2004, 01:32:32 PM »
strictly speaking you never need proof (receipts) unless you are audited.
hell, you don't even need to keep copies of your return

But I still don't think these are allowable deductions.

But for those who have already filed and did not deduct and want to deduct, you can always file an amended return.

i agree.  i dont think these are deductible items...i didnt surely didnt deduct them.

but as long as you dont get audited...it should be fine.  and even if you do, it wont be much that you owe. 
'why does it hurt so much when i poke it?'

nathanielmark

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Re: LSAT, LS Apps and Taxes
« Reply #7 on: June 08, 2004, 01:43:12 PM »
when in doubt deduct.  then you can just pay it back if you are audited.

dsong02

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Re: LSAT, LS Apps and Taxes
« Reply #8 on: June 08, 2004, 01:43:36 PM »
when in doubt deduct.  then you can just pay it back if you are audited.

granted, with interest.
'why does it hurt so much when i poke it?'

jgruber

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Re: LSAT, LS Apps and Taxes
« Reply #9 on: June 08, 2004, 01:59:19 PM »
and possible penalty in the form of fines and if you really do it up right they could invite you to the pen