Rich dad course tax write off

[Pamela Marshall]

I paid for some rich dad course, Can I get a write off on them? how do I get a write off for education

[Ebere Okoye]

Originally posted by ladymarshall:

I paid for some rich dad course, Can I get a write off on them? how do I get a write off for education

I agree with Charles on the expense needing to be ordinary and necessary which for a real estate investor

For my clients, I would usually treat those costs as start up costs subject to the $5k first year deduction and then the balance over 15 years.

There are other instances where I accelerate the amortization if the client has shown significant real estate activity.

And for my clients who do rehabs within their first year, I include in the cost basis of the property.

CAVEAT: I usually shy away from taking this deduction for clients that do not have a registered and viable business because then the question becomes, if you do not have a real estate business, was this "NECESSARY"