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I am doing it this year so we will see! I think it is a gray area and the IRS has some examples if you do a Google search. If you go from social work / TFA to IB or Consulting it might be a tough sell versus Corp Fin to IB / Consulting etc.
https://www.wsj.com/articles/good-news-for-m-b-a-students-tuition-is-no…
Yes, but it is hard to do one TurboTax or HR Block, use a company that specializes in it like fileit.tax or a proficient CPA
From what I've gathered, if you return to a similar enough industry (IB -> MBA -> IB) then yes, you can deduct. Harder to claim when you're using the MBA to pivot your career
no affiliation with these guys but have been recommended by people at my school
https://fileit.tax/mba/
The rules for deducting MBA expenses are very gray and the deduction is often audited by the IRS. If you are considering taking the deduction you should seek the assistance of a experienced tax professional. I'd stay clear of sites like Fileit.tax. They twist the IRS language to make it appear it's easy to deduct and that most people qualify. There are many court cases out there where taxpayers lost for deducting their MBA expenses.
Where are the court cases where people have lost their cases? Can't find any online.
Financing your MBA - Tax Deductible Tuition (Originally Posted: 12/20/2014)
Has anyone hired a tax accountant? Anyone have a referral? I was reading this post on wealthfront: https://blog.wealthfront.com/optimizing-mba-financial-plan/
I didn't need an MBA but I do see it as an opportunity gain some skills to go on a similar career trajectory. I also like the idea of converting my traditional IRA to a Roth IRA in 2016 when I will be in a poorman's tax bracket.
I searched the forums and couldn't find anything!!
If you're in your 20s IRAs are pretty much BS because Congress can (and likely will) change the rules on you retroactively. You've got a 30-40-year window where the Feds could possibly retroactively change the rules on you, so to me I think there are better things you can do with your money, especially when talking about the Roth IRA. Although this comment is almost entirely unrelated to the topic at hand.
Double post
Bump. Secondary did anyone try getting Obamacare during bschool?
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