michigantaxadvice.com Blog http://michigantaxadvice.com/blog Tax Advice, Estate Planning and Business Formation News Thu, 14 Jan 2010 06:07:07 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Deducting Specialty Graduate School Costs http://michigantaxadvice.com/blog/2010/01/13/about/ http://michigantaxadvice.com/blog/2010/01/13/about/#comments Wed, 13 Jan 2010 21:52:16 +0000 Administrator http://phillycoolrob.com/wordpress_281/?page_id=2 01/13/2010

The IRS in Revenue Ruling 74-78 provides the ability of a professional to deduct the costs of specialty graduate school.  In the revenue ruling, the IRS ruled that a dentist enrolled in an orthodontics program could deduct the costs of the orthodontics degree because the orthodontics degree was to enhance his skill in his current profession and not training towards an other field.

For further information on what degrees and expenses are deductible business expenses please contact us.

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