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To: bone52

I have $120,000.00 in student loans. I paid that money to obtain my BA and JD, which are required in my profession.

Guess what? It’s not tax deductible.

A plumber buys a van and tools to do his job? Deductible.
A professional buys a degree required to get a license? not deductible.


18 posted on 02/07/2008 7:45:16 PM PST by Bronco_Buster_FweetHyagh
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To: Bronco_Buster_FweetHyagh
A professional buys a degree required to get a license? not deductible.

We live in a capitalist society. Sometimes you have to buy equipment to make a more efficient living. In your case the "equipment" is a BA and JD. You amortize your investment over a period of time. If your "equipment" is appropriate, you will get a good return on investment. Your professional fees need to include a portion to amortize your investment.

70 posted on 02/07/2008 9:01:51 PM PST by Myrddin
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To: Bronco_Buster_FweetHyagh

I am going through the same gig. I am finishing up my JD, have six figures of student loans, and am waiting for the government to ask me to grab my ankles to pay taxes.

Although, I still do have the pleasure of going to class and listening to socialist professors professing the need for higher taxes on the rich.


73 posted on 02/07/2008 9:24:10 PM PST by bone52
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To: Bronco_Buster_FweetHyagh
"A plumber buys a van and tools to do his job? Deductible. A professional buys a degree required to get a license? not deductible."

Maybe you should have learned to fit pipes instead of paying $120,000 to listen to a bunch of liberal professors spout drivel for four years.

108 posted on 02/08/2008 3:09:23 AM PST by Godebert
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