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Home -> Community -> Mailing Lists -> Oracle-L -> RE: OT -- training
the other way to deduct the full amount of conferences/training is to write it off against royalties :)
>From: "Bowes, Chris" <Chris.Bowes_at_kosa.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: Mon, 13 Aug 2001 14:05:26 -0800
>
>You can deduct them on Line 20 of your schedule A for itemized deductions.
>
>This is subject to some HOWEVER's.
>
>You must take your 2% of your adjusted gross income and deduct it from that
>deduction. So if it cost you 2500 dollars to go to openworld and your
>adjusted gross income (w2's, tips, ira deduction, student loan interest
>deduction all factored) on line 34 of form 1040 is 50K then 2% of 50K is
>1000 dollars. So you can only deduct 1500 of the 2500 dollars.
>
>And if your standard deduction (4400 for single/ 7350 for married) is
>higher
>than your sched A, you won't write off any of it.
>
>
>Joe gets that deduction off the top. Before it ever hits his 1040. So he
>gets the full 2500 plus all his other business deductions with no 2%
>adjustment, THEN he still gets any personal deductions of his standard
>deduction.
>
>
>So, yes, you can usually deduct it, but not entirely and at the expense of
>the standard deduction that you would already get.
>
>
>--Chris
>Chris.Bowes_at_Kosa.com
>
>
>
>-----Original Message-----
>Sent: Monday, August 13, 2001 4:01 PM
>To: Multiple recipients of list ORACLE-L
>
>
>Either to don't need to incorporate, or my
>tax accountant lied to me, I don't know
>which, but I have written off training
>and IOUG-A trips (that were paid for 100% by
>me) while I was an employee of
>a consulting firm.
>
>(Is that the IRS I hear knocking?)
>
>
>----
>Matt Adams - GE Appliances - matt.adams_at_appl.ge.com
>Doing linear scans over an associative array is like
> trying to club someone to death with a loaded Uzi.
> - Larry Wall (creator of Perl)
>
>
>
>-----Original Message-----
>Sent: Monday, August 13, 2001 3:42 PM
>To: Multiple recipients of list ORACLE-L
>
>
>You can't write off training. you need to get incorporated. I'm a
>business
>entity and if/when the company i work for won't pay for training, you can
>bet it will get written off on my taxes, that includes all of the oracle
>books, OCP exams, you name it, it gets deducted as a legitimate company
>expense.
>
>2 years ago the company i was working for didnt want to send me to
>openworld(and I knew i'd be leaving in less than 2months anyways), so i ate
>the cost and wrote the entire trip off.
>
>joe
>
>
>
>
>
> >>> RROGERS_at_galottery.org 08/13/01 02:41PM >>>
>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
><mailto:boivinp_at_mar.dfo-mpo.gc.ca> >
>
>--
>Please see the official ORACLE-L FAQ: http://www.orafaq.com
><http://www.orafaq.com>
>--
>Author: Boivin, Patrice J
> INET: BoivinP_at_mar.dfo-mpo.gc.ca
>
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>Author: Ron Rogers
> INET: RROGERS_at_galottery.org
>
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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 Mon Aug 13 2001 - 20:40:53 CDT
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