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Michael has a very successful business as a financial consultant. Michael attends the following seminars: "Zen...

Michael has a very successful business as a financial consultant. Michael attends the following seminars:

"Zen your way to riches" $800
"Backyard Gardening" 50
"Computer Marketing Tools" 200
"Passing the Legal Bar Exam" 500
"Beating the Market" 300

How much can Michael deduct as business education expenses? Explain the basis for your answer to receive full credit.
business   accounting   
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Answer #1

"Zen your way to riches" is the course for attain Ways to Achieve Your Financial Goals. So as a financial consultant Michael can include in business education expense.

"Backyard Gardening" Cannot be included as its not a part of business education expense.

"Computer Marketing Tools"- As Michael is a financial consultant he cannot include it in his business education Expense. Its poorly market related and a slaes person should learn it.

"Passing the Legal Bar Exam"- This exam is for a practicing lawyer . Its not a part of his business education Expense.

"Beating the Market" - As a financial consultant Michael can include this in his business education expense. He should know how to win market expectially share market.

Total Business education expense is =$800+$300= $1100

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