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Home -> Community -> Mailing Lists -> Oracle-L -> RE: OT -- training
yes it qualifies. but as pointed out earlier in this thread, it goes into the Schedule A AFTER you have deducted a percentage of your income from the total of expenses.
In general, you need a LOT of business expenses to make it worth trying to deduct them as an individual
>From: lhoska_at_calibresys.com
>Reply-To: ORACLE-L_at_fatcity.com
>To: Multiple recipients of list ORACLE-L <ORACLE-L_at_fatcity.com>
>Subject: RE: OT -- training
>Date: Tue, 14 Aug 2001 13:41:04 -0800
>
>Speaking about progressing in your current field wouldn't technical
>training
>of dba qualify for a tax break under the same category as training for FAA
>ground instructor? Otherwise, your FAA ground instructor registered as a
>private business (and we're back to the beginning of our discussion).
>Doesn't surprise me neither does it make me jealous. There are so many
>different career decisions you can make. I like being a dba..
>Btw, I am pretty sure you can write off your technical book fees even as an
>individual..
>-----Original Message-----
>Sent: Tuesday, August 14, 2001 4:54 PM
>To: Multiple recipients of list ORACLE-L
>
>
>Appearances to the contrary, Canada is a separate country with their own
>tax laws.
>
>However, the tax dodge that you mention is common here too.
>
>Here's a really good one -- become a Certified FAA Ground Instructor. You
>teach people how to pass the FAA ground exam. Since it's not life
>threatening, it's relatively simple to get this certificate. Then get a
>student or two. After that you can buy an airplane. The airplane, the gas
>to fly it, the maintenance and hangering of the airplane, the cost of
>getting the experience necessary to become a Certified Flight Instructor
>(CFI), books, aircraft simulator software, landing fees, even the cost of
>overnight lodging in some cases, instructors' fees (in short, a whole ton
>of things that make flying a hobby for the rich) become tax deductable
>because they are helping you progress in your field as an instructor. The
>IRS does not allow you to deduct training that qualifies you for a new
>field but it does allow you to deduct training that allows you to progress
>in your current field. Because of the FAA requirements for becoming a CFI
>almost anything having to do with flying will count as "training".
>
>
>
>
>
> "Boivin, Patrice
>
> J" To: Multiple recipients
>of
>list ORACLE-L
> <BoivinP_at_mar.dfo- <ORACLE-L_at_fatcity.com>
>
> mpo.gc.ca> cc:
>
> Sent by: Subject: RE: OT --
>training
>
> root_at_fatcity.com
>
>
>
>
>
> 08/14/2001 04:17
>
> PM
>
> Please respond to
>
> ORACLE-L
>
>
>
>
>
>
>
>
>
>I know in Canada that some high-paid executives have "farms" in rural areas
>(ahem, cottages really) where they grow forage, seed, or raise a couple of
>sheep, rabbits, a few pigs, some chickens, or one cow. All for tax
>deductions of course. It helps if the farm is near a lake.
>
>Another good one is "horse farm". There is a particularly big one in
>Ontario that specializes in horse racing... and never makes a profit. Ha
>ha
>ha ha ha ha...
>
>This is my opinion, of course. But I saw many of these when I used to
>enter
>farm tax records for Statistics Canada years ago.
>
>Regards,
>Patrice Boivin
>Systems Analyst (Oracle Certified DBA)
>
> -----Original Message-----
> From: tday6_at_csc.com [SMTP:tday6_at_csc.com]
> Sent: Tuesday, August 14, 2001 3:44 PM
> To: Multiple recipients of list ORACLE-L
> Subject: RE: OT -- training
>
> I guess that we'll let the IRS sort this one out. Your friend is
>probably
> right and I was probably overly emphatic when I said that you MUST
>show a
> profit sometime. But I would rather not leave it up to the IRS to
>decide
> whether it is a business or a hobby.
>
>
>
>
> "Post, Ethan"
>
> <epost_at_kcc.co To: Multiple recipients
>of list ORACLE-L
> m> <ORACLE-L_at_fatcity.com>
>
> Sent by: cc:
>
> root_at_fatcity. Subject: RE: OT --
>training
> com
>
>
>
>
>
> 08/14/2001
>
> 01:17 PM
>
> Please
>
> respond to
>
> ORACLE-L
>
>
>
>
>
>
>
>
>
> Actually I talked to a friend who is pretty knowlegable about this
>stuff
> and
> he says that what it will really come down to is intent. The IRS is
>not
> going to call your business a hobby if it is in fact unquestionably
>a
> business, even if it has lost money for a period of years. - E
>
> >-----Original Message-----
> >From: tday6_at_csc.com [mailto:tday6_at_csc.com]
> >Sent: Tuesday, August 14, 2001 7:41 AM
> >To: Multiple recipients of list ORACLE-L
> >Subject: RE: OT -- training
> >
> >
> >Check with your tax advisor again or get a new tax advisor. I
>don't
> >remember the exact details but you MUST show some tax-able profit
>for a
> >certain number of years out of every so many years (eg, 1 year
> >out of the
> >last 4 - I'm not sure that those are the right numbers) or the IRS
>will
> >decide that your "business" is just a "hobby" and force you to
> >go back and
> >give up all your business deductions. It doesn't have to be a
> >huge profit,
> >but it does have to be a positive number.
> >
> >
> >
> >
> > lhoska_at_calibr
> >
> > esys.com To: Multiple
> >recipients of list ORACLE-L
> > Sent by:
> ><ORACLE-L_at_fatcity.com>
> > root_at_fatcity. cc:
> >
> > com Subject: RE: OT
> >-- training
> >
> >
> >
> >
> > 08/13/2001
> >
> > 06:05 PM
> >
> > Please
> >
> > respond to
> >
> > ORACLE-L
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >I've heard from my tax adviser your business doesn't have to show
>any
> >profit
> >for number of years after opening. I suspect even then it is
> >not required.
> >What if you having hard time making profit? It doesn't mean
> >you have to
> >close your business...I assume in that case you can also register
>as a
> >non-profit organization. Are tax breaks better for
> >non-profits? I don't
> >know..
> >Also, if you don't already know.. some training companies
> >(Learning Tree
> >International per example) won't even register you for class
> >if you're an
> >individual. You have to be a corporation.
> >Lyuda
> >
> >-----Original Message-----
> >Sent: Monday, August 13, 2001 3:42 PM
> >To: Multiple recipients of list ORACLE-L
> >
> >
> >You could create a web site that features some technical
> >materials and use
> >it to advertise your services if you are willing to moonlight on a
>few
> >jobs,
> >just enough to turn a profit within a couple years. Then I
> >would presume
> >you would have no trouble writing the training off as a legitimate
>biz
> >expense.
> >
> >- Ethan
> >- http://www.geocities.com/epost1
> >
> >>-----Original Message-----
> >>From: Ron Rogers [mailto:RROGERS_at_galottery.org]
> >>Sent: Monday, August 13, 2001 11:42 AM
> >>To: Multiple recipients of list ORACLE-L
> >>Subject: Re: OT -- training
> >>
> >>
> >>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
> >>
> >>>>> BoivinP_at_mar.dfo-mpo.gc.ca 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: boivinp_at_mar.dfo-mpo.gc.ca
><mailto:boivinp_at_mar.dfo-mpo.gc.ca>
> >>
> >>--
> >>Please see the official ORACLE-L FAQ: http://www.orafaq.com
> >>--
> >>Author: Boivin, Patrice J
> >> INET: BoivinP_at_mar.dfo-mpo.gc.ca
> >>
> >>Fat City Network Services -- (858) 538-5051 FAX: (858)
>538-5051
> >>San Diego, California -- Public Internet access / Mailing
>Lists
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> >>--
> >>Author: Ron Rogers
> >> INET: RROGERS_at_galottery.org
> >>
> >>Fat City Network Services -- (858) 538-5051 FAX: (858)
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> INET: tday6_at_csc.com
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>--
>Please see the official ORACLE-L FAQ: http://www.orafaq.com
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>Author: Boivin, Patrice J
> INET: BoivinP_at_mar.dfo-mpo.gc.ca
>
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> INET: lhoska_at_calibresys.com
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-- Please see the official ORACLE-L FAQ: http://www.orafaq.com -- Author: Rachel Carmichael INET: carmichr_at_hotmail.com 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: ListGuru_at_fatcity.com (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).Received on Tue Aug 14 2001 - 19:06:54 CDT
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