i work as a consultant IT project manager and renewed my pmp/csm certifications in 2017.can i deduct certification renewal cost from my taxes? these certifications are required to stay competitive and improve skills by taking classes (One can renew pmp only after 60 hours for classes/pdu). These certification are not mandatory by employer but preferred qualification.
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Yes, these are qualified employee expenses that can be included as Miscellaneous deductions on your Schedule A.
Even though they are not mandatory, they are ordinary and necessary.
Here is the IRS language:
An expense is ordinary if it is common and accepted in your trade, business, or profession. An expense is necessary if it is appropriate and helpful to your business. An expense doesn't have to be required to be considered necessary.
These expenses must exceed 2% of your AGI before you will notice a difference on your tax return.
For more information, see page 2 of the following: Misc. Deductions
I wonder if implementing some sort of management system affects the taxes obligations. Shall we declare it somehow?
Hey there! I know this post is a bit old, but I wanted to chime in for anyone else who might have a similar question. As for deducting your certification renewal costs from your taxes, I would recommend consulting with a tax professional or accountant to get a more accurate answer. It can vary depending on your individual circumstances and location. However, as an alternative solution, have you considered using an online project management system? It can help you stay organized and efficient with your projects, which can ultimately save you time and money. Some popular options include Trello, Asana, and Basecamp. Just a thought! Hope this helps.
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