Can life coach training expenses be tax deductible?

April 08, 2015 by Dave Du Val, EA
Personal Development, Guiding Skills, Help, Coaching, Learning

Hey Dave,

My wife is training to begin her career as a life coach. Can the expenses of her training, including tuition, room, board & travel, be tax deductible?

Sandep

 

Sandep,

Probably not. Generally, education and training expenses that qualify you for a new job are not deductible. However, if the training is being offered by a qualified educational institution, there is a chance that you may qualify for an American Opportunity Credit, a Lifetime Learning Credit, the Tuition and Fees Deduction, or the Student Loan Interest Deduction if you are paying for the education with a qualified student loan.

More information on tax benefits relating to education may be found here. You will also find useful information in the Education section of TurboTax in the Deductions and Credits area. Please look over all of the material carefully to be sure you qualify before claiming any credit or deduction, as each has specific requirements attached to them.

Deductibly Yours,

Dave

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Dave Du Val, EA

Dave Du Val, EA
Chief Compliance Officer for TRI Holdco

 
Dave Du Val, EA, is Chief Compliance Officer for TRI Holdco. Inc., the parent company of TaxAudit, and Centenal Tax Group. A nationally recognized speaker and educator, Dave is well known for his high energy and dynamic presentation style. He is a frequent and popular guest speaker for the California Society of Tax Consultants, the California Society of Enrolled Agents and the National Association of Tax Professionals. Dave frequently contributes tax tips and information to news publications, including US News and World Report, USA Today, and CPA Practice Advisor. Dave is an Enrolled Agent who has prepared thousands of returns during his career and has trained and mentored hundreds of tax professionals. He is a member of the National Association of Tax Professionals, the National Association of Enrolled Agents and the California Society of Enrolled Agents. Dave also holds a Master of Arts in Education and has been educating people since 1972. 
 

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