RE: Education Tax deductions for lab equipment

From: Mike Williams (ccie2be@swbell.net)
Date: Tue Mar 04 2003 - 10:31:17 GMT-3

Just FYI: There are two important things to keep in mind about this
deduction (See IRS publication 508)

1) You must be itemizing your deductions to be able to take this (i.e.
you're out of luck if you take the standard deduction)

And

2) This is subject to the 2% rule (unless you're self employed)

There are some things to be sure of before you (or your tax preparer)
just starts deducting blindly.

HTH,
Mike W.

-----Original Message-----
From: nobody@groupstudy.com [mailto:nobody@groupstudy.com] On Behalf Of
Jerry
Sent: Monday, March 03, 2003 6:54 PM
To: Pratt, Jeremy; 'Christopher Jarosz'; ccielab@groupstudy.com
Subject: Re: Education Tax deductions for lab equipment

Same here Jeremy,

           I wrote-off my 1st lab fail in December. I had until January
but then I wouldn't have the 2002 deduction so I figured if I was going
to fail anyway I might as well do it in 2002! Plus train fare and room
and all taxis.

Jerry
----- Original Message -----
From: Pratt, Jeremy <JPratt@coh.org>
To: 'Christopher Jarosz' <cajarosz@attbi.com>; <ccielab@groupstudy.com>
Sent: Monday, March 03, 2003 5:26 PM
Subject: RE: Education Tax deductions for lab equipment

> My tax guy writes it in for me every year. He also deducts the books,
> cert tests, flights to the training center, hotel, car and all that
> good stuff.
> He says whatever is related is applicable.
>
> -----Original Message-----
> From: Christopher Jarosz [mailto:cajarosz@attbi.com]
> Sent: Monday, March 03, 2003 1:52 PM
> To: ccielab@groupstudy.com
> Subject: OT: Education Tax deductions for lab equipment
>
>
> I have an interesting question to the group.....
>
> Has anyone taken the "educational tax deduction" ?
>
> I read in the recent tax laws about a test that if you purchased
> educational material (lab books, routers...etc) that you can use to
> "Maintain or improve"
> your skills for your jobs, you can claim the price of such materials
as
> a
> deduction...... I know that like y'all that you dumped a load of cash
> into
> your home labs and a tax deduction would be a nice "payback"
>
> Just curious.....
>
> Thanks !!! And sorry about the off topic subject.....
>
> chrisj
>
> [GroupStudy removed an attachment of type text/x-vcard which had a
> name of Christopher A Jarosz.vcf]
>
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