Tax Write offs/deductions Education Expenses

Can someone PM contact information of anyone (preferably an accountant) they know that has knowledge about deductions for education expenses? If you have general knowledge available then that would be nice. I want to learn a little about deducting education expenses as a business and as an individual and including foreign institutions.

 

I have found my best deductions using the Lifetime Learning tax credit. That's what my accountant always uses. That is, after I TOLD HIM about it!

 

That's part of my problem lol. I'm about to get an accountant soon and I want to have some knowledge so that I can determine if he/she is at the level of where I think they should be.

 

Over the years, I have used the Hope credit, the American Opportunities, the Lifetime Learning credit, and expensed them as unreimbursed business expenses. The first two work well until you hit a certain income threshold and then the amount is reduced.

http://www.irs.gov/newsroom/article/0,,id=213044,00.html

You can claim them as unreimbursed business expenses no matter what your income level is provided that you can establish the link between the education and your profession. Using this route you can also claim any of the expenses directly related to education that are not covered by the two credits.

http://www.irs.gov/faqs/faq/0,,id=199718,00.html

Judging by your sig - you would not qualify for the Hope.