Go to B-School. Get a Tax Deduction? It’s More Likely Than You Think!
The New York Times blog, “Bucks”, recently published two in-depth articles about a recent court ruling that has made MBA tuition tax deductible provided that you can prove that an MBA can enhance your career. There are some subtleties to the ruling; for example, you cannot deduct the cost of your MBA if you use it to switch careers and in some cases, you might have to provide written proof that the specific classes you took to earn your MBA are directly relevant to your established career. It’s worth giving both articles a full and thorough read, as this new ruling has the potential to save you a significant sum of money.
New York Times: When You Can Deduct the Cost of Your M.B.A.
New York Times: More on M.B.A. Tuition Reductions
Is MBA tuition tax-deductible?
From the Wall Street Journal, Bschool tuition apparently was tax-deductible for at least one MBA student. Whether this changes the scenario for MBA students everywhere is still open to question.