The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Deductions from Self employ income Date:  3/8/1998  1:07 PM
Author:  Sewerguy Number:  2495 of 124763

I earned approximately $1500 of self-employment income last year providing enviornmental/chemical engineering consulting services.

My understanding of the tax codes is that I can deduct professional expenses against these earnings. Specificly, I wanted to deduct the cost (~$500) of a course I took to prepare myself for Professional Engineering certification (PE).

Does it sound like my understanding is correct?

Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us