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Seminar Tax Deductions – How to Claim Your Education and Keep More Money


Have you heard of seminar tax deductions? Well if you are thinking of continuing your education or traveling to a conference for a business related purpose you need to know about this little IRS loophole.

Seminars and conferences are tax deductible, if you document them properly. You can also deduct your travel expenses like your air fare, hotels, and some of your entertainment expenses if the greater portion of your trip is dedicated to business or furthering your career.

If you are traveling in the United States to a business related seminar or convention then 100% of your trip is tax deductible as long as at least 50% of your trip is dedicated to business or furthering your career.

If you need to travel overseas then you can deduct up to 75% of your expenses, if your trip is 7 days or less. There must be a reasonable need to travel overseas though for this course. For example, a course that specialized in international taxation targeted to accountants that was hosted in London would probably be eligible for a tax deduction.

Now if the exact same seminar is being held in your home town as is being held in the city that you intend to fly to, then you may not get the exemption. There should be a reasonable need to travel.

For example, a person wanting to take the Series 3 Commodities Broker exam could take a 7 day prep course at the World Capital Institute in Orlando or Miami, Florida and write the class off because the class is only offered in Orlando or Miami. His travel expenses , hotel and food would be written off as part of the expense of furthering his education.

Remember to document the course or event that you are going to. Keep your receipts. And make sure to plan your trip so that at least 50% of it is spent in your seminar. If you could get a letter from the institute or course instructor verifying that you attended, even better.

Remember to follow these rules and to consult with your tax adviser before planning your trip to make sure that you are able to utilize all the tax benefits at your disposal. Tax rules can change as well so make sure that you and your adviser discuss the exact procedure that you are going to use to document your taking your course.

Caterina Christakos is a writer and private investor. To find out how to enhance your career options by becoming a financial broker go to: http://brokertrainingandeducation.com/