Do GMAT costs qualify for business expense tax deduction?
Hello, I had some costs regarding GMAT preparation courses, transportation to go to the courses and the GMAT test of course. I know these costs do...
Hello,
I had some costs regarding GMAT preparation courses, transportation to go to the courses and the GMAT test of course.
I know these costs do not qualify for tuition reimbursement, however, do these expenses qualify for business expense for deduction purposes in the tax return? Note that the GMAT test has got me into an MBA program that will improve my job skills.
Thanks,
Agustin.
No. It’s not tuition. There is NOTHING in the tax code to give you a break for it.
The only way it could be a business deduction is if you are running your own business and you can justify that it is necessary and relevant to your business.
Improving your job skills so you can get a better job does not qualify as a business.