Can Mba Tuition Be Tax Deducted For A Small Business Software It Consulting Company ?
December 19, 2009
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Posted by Brian
Hello Everyone,
I recently opened a software consulting company and I believe that having an MBA degree will help to grow my software busines. Can I deduct my MBA tuition (approx $45k per year for top 5 schools) as a business (S-Corp) expense? If not, are there any alternative way to expense the MBA tuition. I have seen many conflictive posting on the internet regarding this question. Please share your insights.
Regards
Categories: Small Business Software
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Tags: Business, Company, Consulting, Deducted, Small, Software, Tuition
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Leave a reply
Yes. On tax form 1120S it can be included on line 7 “Compensation to Officer” if you are an officer in your company or line 18 “Employee Benifit Program” if you are an employee, not an officer.