RE: OT -- training

[Bowes, Chris]

You can deduct them on Line 20 of your schedule A for itemized deductions.    This is subject to some  HOWEVER's.     You must take your 2% of your adjusted gross income and deduct it from that deduction.  So if it cost you 2500 dollars to go to openworld and your adjusted gross income (w2's, tips, ira deduction, student loan interest deduction all factored) on line 34 of form 1040 is 50K then 2% of 50K is 1000 dollars.  So you can only deduct 1500 of the 2500 dollars.   And if your standard deduction (4400 for single/ 7350 for married) is higher than your sched A, you won't write off any of it.      Joe gets that deduction off the top.  Before it ever hits his 1040.  So he gets the full 2500 plus all his other business deductions with no 2% adjustment,  THEN he still gets any personal deductions of his standard deduction.      So, yes, you can usually deduct it, but not entirely and at the expense of the standard deduction that you would already get.   --Chris [EMAIL PROTECTED]   -----Original Message----- From: Adams, Matthew (GEA, 088130) [mailto:[EMAIL PROTECTED]] Sent: Monday, August 13, 2001 4:01 PM To: Multiple recipients of list ORACLE-L Subject: RE: OT -- training Either to don't need to incorporate, or my tax accountant lied to me,  I don't know which, but I have written off training and IOUG-A trips (that were paid for 100% by me) while I was an employee of a consulting firm.   (Is that the IRS I hear knocking?)   ---- Matt Adams - GE Appliances - [EMAIL PROTECTED] Doing linear scans over an associative array is like   trying to club someone to death with a loaded Uzi.                  - Larry Wall (creator of Perl)   -----Original Message----- From: JOE TESTA [mailto:[EMAIL PROTECTED]] Sent: Monday, August 13, 2001 3:42 PM To: Multiple recipients of list ORACLE-L Subject: Re: OT -- training You can't write off training.  you need to get incorporated.  I'm a business entity and if/when the company i work for won't pay for training, you can bet it will get written off on my taxes, that includes all of the oracle books, OCP exams, you name it, it gets deducted as a legitimate company expense.    2 years ago the company i was working for didnt want to send me to openworld(and I knew i'd be leaving in less than 2months anyways), so i ate the cost and wrote the entire trip off.   joe       >>> [EMAIL PROTECTED] 08/13/01 02:41PM >>> Patrice, There is "resistance" to any training that I feel is necessary to further my knowledge and/or enhance my understanding of the Oracle processes. Even though I have money in the budget for such items I have to submit a business case defining the gains to the company and after completing the course with a passing grade the company will reimburse me the expenses for the course only. I also have to sign a waver that I will pay the company back the full cost of the course if I leave their employment before 365 days. Needless to say I pay for everything myself and hope to write it off on taxes if they ever get the bill signed into law. ROR mª¿ªm >>> [EMAIL PROTECTED] 08/13/01 11:46AM >>> Just out of curiosity, how many days / weeks of real training did your employer provide you with in the last couple of years? "real" is in quotes, I don't mean the little 1 - 3 day seminars given by CareerTrack and other "training" companies, or management-related stuff like little MBA-flavoured certificates from universities. Oh, and did the amount of training you received match what you were told during your job interview? Regards, Patrice Boivin Systems Analyst (Oracle Certified DBA) Systems Admin & Operations | Admin. et Exploit. des systèmes Technology Services        | Services technologiques Informatics Branch         | Direction de l'informatique Maritimes Region, DFO      | Région des Maritimes, MPO E-Mail: [EMAIL PROTECTED] <mailto:[EMAIL PROTECTED]> -- Please see the official ORACLE-L FAQ: http://www.orafaq.com -- Author: Boivin, Patrice J   INET: [EMAIL PROTECTED] Fat City Network Services    -- (858) 538-5051  FAX: (858) 538-5051 San Diego, California        -- Public Internet access / Mailing Lists -------------------------------------------------------------------- To REMOVE yourself from this mailing list, send an E-Mail message to: [EMAIL PROTECTED] (note EXACT spelling of 'ListGuru') and in the message BODY, include a line containing: UNSUB ORACLE-L (or the name of mailing list you want to be removed from).  You may also send the HELP command for other information (like subscribing). -- Please see the official ORACLE-L FAQ: http://www.orafaq.com -- Author: Ron Rogers   INET: [EMAIL PROTECTED] Fat City Network Services    -- (858) 538-5051  FAX: (858) 538-5051 San Diego, California        -- Public Internet access / Mailing Lists -------------------------------------------------------------------- To REMOVE yourself from this mailing list, send an E-Mail message to: [EMAIL PROTECTED] (note EXACT spelling of 'ListGuru') and in the message BODY, include a line containing: UNSUB ORACLE-L (or the name of mailing list you want to be removed from).  You may also send the HELP command for other information (like subscribing).