Law School Discussion

Are LS application fees considered a tax writeoff?

Re: Are LS application fees considered a tax writeoff?
« Reply #10 on: September 12, 2004, 12:11:30 PM »
At least most of us will be able to take the Lifetime Learning credit while we're in LS

dr_draino

Re: Are LS application fees considered a tax writeoff?
« Reply #11 on: September 14, 2004, 06:43:24 PM »
Alright, I talked to my moms about this and confirmed all of what was written above, but with a slight difference:

Lifetime Learning Credit applies to tuition for ANY education...doesn't have to be towards a degree.  So if you decide as a 49 yr. old stay-at-home mom/dad with the kids out of the house that you're bored and would like to take underwater basket weaving for fun, you can apply that tuition to the Lifetime Learning Credit.

Her take is that the tuition for you prep-class is tuition towards a learning experience and that it can also be applied to the Lifetime Learning Credit.

Good news for all of you that took the prep courses!

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Re: Are LS application fees considered a tax writeoff?
« Reply #12 on: September 14, 2004, 08:06:13 PM »
Alright, I talked to my moms about this and confirmed all of what was written above, but with a slight difference:

Lifetime Learning Credit applies to tuition for ANY education...doesn't have to be towards a degree.  So if you decide as a 49 yr. old stay-at-home mom/dad with the kids out of the house that you're bored and would like to take underwater basket weaving for fun, you can apply that tuition to the Lifetime Learning Credit.

Her take is that the tuition for you prep-class is tuition towards a learning experience and that it can also be applied to the Lifetime Learning Credit.

Good news for all of you that took the prep courses!

Is that because she isn't afraid to get shady, as you mentioned before, or because that's really what you can do?  Not that I have a problem with loopholes, especially since I want to be a tax attorney :)

dr_draino

Re: Are LS application fees considered a tax writeoff?
« Reply #13 on: September 14, 2004, 08:08:10 PM »
Shady, but not illegit.  I've confirmed this through two friends on their MCAT classes. 

Alright, I talked to my moms about this and confirmed all of what was written above, but with a slight difference:

Lifetime Learning Credit applies to tuition for ANY education...doesn't have to be towards a degree.  So if you decide as a 49 yr. old stay-at-home mom/dad with the kids out of the house that you're bored and would like to take underwater basket weaving for fun, you can apply that tuition to the Lifetime Learning Credit.

Her take is that the tuition for you prep-class is tuition towards a learning experience and that it can also be applied to the Lifetime Learning Credit.

Good news for all of you that took the prep courses!

Is that because she isn't afraid to get shady, as you mentioned before, or because that's really what you can do?  Not that I have a problem with loopholes, especially since I want to be a tax attorney :)

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Re: Are LS application fees considered a tax writeoff?
« Reply #14 on: September 14, 2004, 08:11:46 PM »
Shady, but not illegit.  I've confirmed this through two friends on their MCAT classes. 

Alright, I talked to my moms about this and confirmed all of what was written above, but with a slight difference:

Lifetime Learning Credit applies to tuition for ANY education...doesn't have to be towards a degree.  So if you decide as a 49 yr. old stay-at-home mom/dad with the kids out of the house that you're bored and would like to take underwater basket weaving for fun, you can apply that tuition to the Lifetime Learning Credit.

Her take is that the tuition for you prep-class is tuition towards a learning experience and that it can also be applied to the Lifetime Learning Credit.

Good news for all of you that took the prep courses!

Is that because she isn't afraid to get shady, as you mentioned before, or because that's really what you can do?  Not that I have a problem with loopholes, especially since I want to be a tax attorney :)

Good enough for me :)  Thanks for the info!

lexylit

Re: Are LS application fees considered a tax writeoff?
« Reply #15 on: September 14, 2004, 08:24:05 PM »
draino's mom is SHADY!  :o

where are the your mom jokes, people? its too easy...

(like drainos mom)

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Re: Are LS application fees considered a tax writeoff?
« Reply #16 on: September 14, 2004, 08:54:32 PM »
draino's mom is SHADY!  :o

where are the your mom jokes, people? its too easy...

(like drainos mom)

Can't insult the woman that's giving us tax advice.

But dude, yo mama's so shady, her friends call her The Real Slim.

(Okay, that wasn't funny, sorry.)

dr_draino

Re: Are LS application fees considered a tax writeoff?
« Reply #17 on: September 14, 2004, 08:57:41 PM »
I love my mother.  I will not have you people talking bad about her.  She might be a drunk, but she's not easy.  Trust me, I've tried.

Re: Are LS application fees considered a tax writeoff?
« Reply #18 on: September 14, 2004, 08:58:26 PM »
I disagree with the above tax advice.  Under the rules for the Lifetime Learning Credit, the tuition must be paid "by a student or on behalf of a student to a qualified higher education institution" under Internal Revenue Code Section 25A(b)(3) and (f).

That same section defines a "qualified higher eduation institution" as "any postsecondary education institution elibible to participate in a student aid program administered under the Department of Education."

I do not believe that Testmasters or any other LSAT prep course is eligible for any such programs, and therefore, the test prep tuition would not be eligible for the Lifetime Learning Credit.

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Re: Are LS application fees considered a tax writeoff?
« Reply #19 on: September 14, 2004, 08:59:04 PM »
I love my mother.  I will not have you people talking bad about her.  She might be a drunk, but she's not easy.  Trust me, I've tried.

I take back my unfunny joke, then.