Truth be told, since this calendar year is quickly drawing to a close, when I posted my original question to these forums I also posted to another set of forums just in case I didn't get a reply right away. I didn't want to miss out on an advantageous tax opportunity. Anyway.....
Well, I did get a reply on the other forums, one that backed up others' thoughts. However there was an interesting idea brought up that, perhaps, if my schooling related to my business in some way, that the money spent beyond the $4k ($1,278) could perhaps be deducted as a business expense.
I'm all for deducting legitimate business expenses in an effort to lower my taxable income! What is your opinion on doing that? The degree I'm trying to obtain is a Bachelor of Science with a major in Organizational Leadership and a concentration in Business. So, the degree will undoubtedly benefit my personal, small business. Could I [safely] claim $4k as education expense to get the AOTC and then deduct the remaining $1,278 as a business expense? If not, hey, I'm going to school either way and I won't lose any sleep over not being able to deduct it. Haha
Thanks!
