Law School Discussion

Are LS application fees considered a tax writeoff?

newy

Are LS application fees considered a tax writeoff?
« on: September 12, 2004, 09:44:13 AM »
I know if all of us future lawyers put our heads together, we can come up with something to soften the blow.

M2

Re: Are LS application fees considered a tax writeoff?
« Reply #1 on: September 12, 2004, 09:49:01 AM »
Now that is an excellent question. I wonder if it can fall under education-expenses.

dr_draino

Re: Are LS application fees considered a tax writeoff?
« Reply #2 on: September 12, 2004, 09:56:07 AM »
Probably only for the school you actually end up attending.  I'll ask my mom...she's a CPA that isn't afraid to get shady with education write-offs.

M2

Re: Are LS application fees considered a tax writeoff?
« Reply #3 on: September 12, 2004, 11:03:46 AM »
Probably only for the school you actually end up attending.  I'll ask my mom...she's a CPA that isn't afraid to get shady with education write-offs.

Sweet! let us know

foxnewssucks

Re: Are LS application fees considered a tax writeoff?
« Reply #4 on: September 12, 2004, 11:05:05 AM »
I did read somewhere that the cost of the LSAT was tax deductible, but one would want to check up on this.

dr_draino

Re: Are LS application fees considered a tax writeoff?
« Reply #5 on: September 12, 2004, 11:07:00 AM »
I did read somewhere that the cost of the LSAT was tax deductible, but one would want to check up on this.

Yes one would, and one will...I'll call my moms tonight and get the 411 and post it on this thread.

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Re: Are LS application fees considered a tax writeoff?
« Reply #6 on: September 12, 2004, 11:07:44 AM »
Omg, this is the best topic.  If y'all are right, that's like a $2300 tax write off (if I can claim TestMasters too).

Re: Are LS application fees considered a tax writeoff?
« Reply #7 on: September 12, 2004, 12:01:52 PM »
I am a CPA, and you will not be entitled to a tax deduction for these expenses. 

The only time that education expenses qualify for a credit or deduction is when you are already enrolled in a program where you are seeking a degree.  Then, you can claim the Hope Credit, Lifetime Learning Credit, or a deduction for tuition, lab fees, and other costs required by the university to earn the degree you are seeking.  Of course, there are other requirements to meet, but that is a brief overview.

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Re: Are LS application fees considered a tax writeoff?
« Reply #8 on: September 12, 2004, 12:02:30 PM »
 :'(

M2

Re: Are LS application fees considered a tax writeoff?
« Reply #9 on: September 12, 2004, 12:05:11 PM »
oh well...thanks anyway