Small-business owners can deduct education costs that maintain or improve skills for their current work, including certifications and training. This applies to any expense that directly sustains or enhances a skill you use in your present occupation, not just tuition for new degrees.
Let's talk about some tax deductions. A third one we can talk about is education. Now, this term means different things to different people. When it comes to the tax rules, if I'm a student and I have an education expense, that might even qualify for a credit. Now we're talking about tuition, higher education, those types of things. As a small business owner, I might need education. Now, that could be a required certification thing that I need, It could be things that are required to maintain something that I already have, but the IRS defines for businesses an education expense as anything that maintains or improves a skill that's needed in your present work. So if it falls under that category, maintains or improves a skill needed in your current work, then you can expense it.
