CFA exam expenses and real world tax deductions/credits

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CEO10K-DAY

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Anyone have experience in boosting the amount of their tax refund every year with CFA exam related expenses?
I know I may have a misleading username here - however, I really earn about 1.65% of 10K a day, and my business card reads Jr. Ops Spec. instead of CEO.
Basically this:
1) OP is 24 yr’s old.
2) Just spent $2,500.00 on resigning up for L2 exam/study materials
3) OP makes a measly $45K a year (no bonus this year either I guess).
4) OP’s want’s to get as FAT of a refund (if at all) as possible.
There’s got to be some continuing education tax deduction/credit out there right? O’bama promised this right?
 
i wouldn’t use the Obama line if the IRS comes knocking. Obama also promised if you like your doc, you can keep it, and that every household will save 2500 a year on insurance.
all in all, unless your name is hillary Clinton, you’ll find a hard time getting away with things
 
Truly a hacksaw if you’re getting any refund at all, unless you’ve realized some unexpected losses after paying quarterly. Maybe a small overpayment is okay, but you should have adjusted January’s payment if you’re a BSD.
 
^Does one have to relinquish the charter if he or she subsequently becomes a BSD?
 
I’m starting to have mixed feelings on going to college, spending 400 hours to pass a finance exam, and working in finance to take home right around a ball park of $30K. The amount I pay away in taxes is astronomical for what I’m earning. So guess I’m just an average swinging dong.
Ramos4rm wrote:
does your company reimburse you for expenses?
Click to expand...
no.
 
CEO10K-DAY wrote:
I’m starting to have mixed feelings on going to college, spending 400 hours to pass a finance exam, and working in finance to take home right around a ball park of $30K. The amount I pay away in taxes is astronomical for what I’m earning. So guess I’m just an average swinging dong.
Ramos4rm wrote:
does your company reimburse you for expenses?
Click to expand...

no.
Click to expand...
Plumbing
 
CEO10K-DAY wrote:
I’m starting to have mixed feelings on going to college, spending 400 hours to pass a finance exam, and working in finance to take home right around a ball park of $30K. The amount I pay away in taxes is astronomical for what I’m earning. So guess I’m just an average swinging dong.
Click to expand...
how old are you dude
 
Why did you spend $2500 on Level II when you don’t make a lot of money? You could have paid $650 and had all the materials you need.
This thread makes me sad.
 
Whatever the tax provisions I am sure you can’t deduct study materials. Exam fees maybe, as professional subscriptions etc.
 
Flashback wrote:
^In Croatia I can but not as a private person than legal entity.
Click to expand...
I can presume you can’t show such an expense on a dormant entity either, albeit a legal entity. Can you carry forward taxable losses solely due to this expense? No. But if it is a proportionately minuscule expense it will be allowed. I know the letter of tax law is different all over the world but the spirit is mostly the same. I mean the taxman won’t bother with making adjustments if it isn’t worth the time.
 
Nope. Cost of education including all material is always double tax deductible in my area thus is the permanent difference.
Recall level 1.
 
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