sorry if this was already answered i could't find anything like it... if i took exotic dance/pole dance/lap dance class could i claim that for my taxes as like work related or what.... newbie here clueless lol;D
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sorry if this was already answered i could't find anything like it... if i took exotic dance/pole dance/lap dance class could i claim that for my taxes as like work related or what.... newbie here clueless lol;D
^^^ I'm not a CPA, but common sense and somewhat related IRS precedent regarding professional training courses for other 'professions' would tend to say yes !
I'll remember that..
Are you now an exotic dancer? Or are you looking to become one? Because that is the threshold question on training. If you are training for a new trade or business, then cost of that training is not an ordinary and necessary business expense. If you are currently in the profession, trade or business, and the training is needed to enhance your skills and thus earning potential in the business or if it is required to maintain the trade or business license, then yes the cost is ordinary and necessary.
For example, a CPA has to get continuing education hours every year just to maintain the certification. Thus the cost of those hours is deductible. But, someone who wants to become an accountant who takes exactly the same course to get an idea of what accountants might learn, that course is not deductible.
HTH
Z
so if i want to deduct it i have to already be an exotic dancer. i can't deduct it if i take the class before i become a dancer...
Like many things is our wonderful tax code, the answer depends on a number of factors. First, what kind of tax return are you filing? If you file as a sole proprietor on a Schedule C then the above pertains. Let me try to clarify:
In order to take it as a deduction you must already be working and the education must maintain or improve your skills (or) is required by law or your employer to keep your present position. Not applicable
However, even if you meet those you cannot take the deduction if the classes are needed to meet the requirements of your job (n/a) (or) is part of a program of study that will qualify you for a new trade or business. Not applicable because stripper classes do not qualify you for a new profession since there is no requirement that I'm aware of
Confusing enough? If you have a corporation you could deduct the expense through an educational assistance program and not worry about the above rules. There is a $5,250 limitation per year.
OK, back to your question. If you are thinking about becoming a stripper or maybe looking for work and you take a class can you deduct it? I would say that if you have never worked in the profession before then by the letter of the law, no. If you ever worked as a stripper or could claim any kind of income (and we know this a cash business) then yes. So, I'd say yes it is generally deductible.