Bill is a sole proprietor. He assists local businesses with bookkeeping. He decides he would like to become a CPA. He believes this designation will grow his business by allowing him to offer a larger variety of accounting services such as tax consultations. So, he takes a CPA review course online in preparation for the exam.

Can Bill deduct the cost of that course ($3,000) on his 2021 personal income tax return?

what tax authorities can explain the solution?

Answer rating: 100% (QA)

As a sole proprietor Bill may be able to deduct the cost of the CPA review course on his 2021 person... View the full answer