Question

Choose the correct answer. a.The cost of a CPA review course is deductible by a bookkeeper on his Schedule C. b.Expenses required for education to maintain skills for the taxpayer's current business are not deductible. c.Education expenses are deductible on Schedule C even if the education qualifies the taxpayer for a new trade or business. d.Expenses for travel as a form of education are not deductible.

Answer 1

Expenses required for education to maintain skills for the taxpayer's current business are not deductible.

Step-by-step explanation:

The correct answer is b. Expenses required for education to maintain skills for the taxpayer’s current business are not deductible. This means that a bookkeeper cannot deduct the cost of a CPA review course on their Schedule C. Deductible educational expenses for a taxpayer's current business include activities that help improve and enhance their existing skills and knowledge. However, if the education qualifies the taxpayer for a new trade or business, the expenses are not deductible on Schedule C. Additionally, expenses for travel as a form of education are not deductible.

Answer 2

d.Expenses for travel as a form of education are not deductible.

Step-by-step explanation:

Expenses in the nature of travel, are not allowed while the travel might be for the purpose of education.

This is because it is not in the nature of direct expense.

As the expense for the purpose of business which are important for the business to pursue in a more positive manner is preferable and essential for the business.

As extra education and knowledge provide excellence to perform the task for which knowledge is acquired.