The best way to do that is to call youself a sole-proprietor of a business. Then you can also deduct travel costs, supplis, etc. This will also allow you to report any profits you may have made from independent consulting. If you are like me, you could have made several thousand dollars on consulting and still reported a loss.
The rule is: If you do it only to save on taxes it's tax evasion. If you are trying to make money, It's tax planning! -----Original Message----- From: Chuck Larrieu [mailto:[EMAIL PROTECTED]] Sent: Sunday, February 03, 2002 1:02 PM To: [EMAIL PROTECTED] Subject: Off Topic - tax deductions for studies [7:34270] As I gather together my 2001 tax year materials, I thought I'd just offer to the group that the cost of books, classes, home lab routers, etc. MAY be tax deductible. there are provisions in the tax code for deducting the cost of those training materials and classes which contribute to your ongoing ability to perform your job. As always, you should check with a qualified accountant to assure that you are eligible and in compliance with the zillions of tax laws out there. Chuck Message Posted at: http://www.groupstudy.com/form/read.php?f=7&i=34336&t=34270 -------------------------------------------------- FAQ, list archives, and subscription info: http://www.groupstudy.com/list/cisco.html Report misconduct and Nondisclosure violations to [EMAIL PROTECTED]
