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Cisco > CCNP > Tax deductable?

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Author Tax deductable?
jhardt
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Registered: Oct 2000
Location: englewood, co usa
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Total Posts: 62

Hey all - quick question...are all the exams/books that we buy tax deductable? I estimate I spent around $1000 on stuff like that in calendar year 2000. Thanks for your replies

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cryptogirl
Senior Member




Registered: Aug 2000
Location:
Country: USA
State: FL
Certifications: CCNA, CCNP
Working on: CCDA CCDP CCIE Design

Total Posts: 169

Good question, I was just having a conversation with some one about this yesterday, anyone have a clue?

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Tom Faigle
Senior Member




Registered: Oct 2000
Location: Fairfax, VA
Country: USA
State: VA
Certifications: CNE,CCNA
Working on: CCDA,CCNP,CCDP,CCIE

Total Posts: 191

I think it depends on several factors. But if you're in the US and you itemize, you may be able to deduct expenses if they are work related and your employer doesn't pay you back for the expenses, or if the costs are for training to keep your job or advance and your employer isn't paying for it. But you'd best to check with IRS or a good accountant.

FYI, I gave my accountant receipts for $1100 for last year (slow year) and as soon as I get my paperwork back. I'll know for sure if the above is totally accurate.

Tom

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wildtxn
Senior Member
M




Registered: Sep 2000
Location: Middle East
Country: USA
State:
Certifications: CCNP, CCDP, MCSA, MCSE 2K
Working on: CCIE

Total Posts: 136

i itemized all of my exams and books this year.
I had about 2500 worth of exams and books and wrote it all off this year and already received my return for it.

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trinidee
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Registered: Feb 2001
Location: NY
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Total Posts: 40

I beleive that it is. You can call the IRS directly at 800-829-1040. They are very helpful.

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ea
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Registered: Jun 2000
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My business is a "s" corporation, it allows me to deduct exams, books, etc.

ea

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beenframed
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Registered: Sep 2000
Location: NYC
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Total Posts: 396

You can at a minimum deduct $500 for self study materials, that's with no receipts. I am not sure if you can deduct more then that even if you have the receipts. I claim the $500 minmum every year.

yippie. and this year I bought a house...yippie I'm rich....


BF

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cryptogirl
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Registered: Aug 2000
Location:
Country: USA
State: FL
Certifications: CCNA, CCNP
Working on: CCDA CCDP CCIE Design

Total Posts: 169

Well then great, I have kept all my reciepts and will be dumping them on my accountants desk with every thing else!! Thanks for the info......Beenframed didn't you just have a baby as well???? You'll be even richer next year!!

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cccnp2001
Junior Member




Registered: Jan 2001
Location: pittsburgh
Country: USA
State: PA
Certifications: CCDP,CCNP,CCDA,CCNA,CNA
Working on: CCIE

Total Posts: 10

OK, I want all your names and social security numbers......I work for the IRS!!!!

Just kidding........ I itemized 1200.00 worth of tests and books this past year also..

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CCDP,CCNP,CCDA,CCNA,CNA

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SuperTone
Junior Member




Registered: Feb 2001
Location:
Country: usa
State: OH
Certifications: CNE, CCDA, CCNA, N+
Working on: CCNP, CCDP

Total Posts: 1
Question

What about hardware? You know, routers and switches.

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