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STRATEGIC ISSUES...ONLINE    
For week of May 2, 2005, Issue #210
 
Featured Articles:
1.  How Work-Related Education Expenses Can Be Deductible
2.  Focus on Fraud: First Spamming Sentencing
3.  Tech Tip Weekly: Saving Web Graphics
4.  Compliance Calendar
1.  How Work-Related Education Expenses Can Be Deductible
 
Imagine these scenarios.  You decide to take evening classes on a topic related to your work.  Perhaps you want to improve your skills or just stay current with new developments in the field.  Or you attend a seminar as part of the continuing education requirement for your professional license.  If your employer won't pick up the tab, can you claim a tax deduction for the education costs?
 
The answer.  Maybe  you can claim a deduction, but it won't be easy.  You might be able to deduct the costs if you itemize deductions.  Even then, though, the costs are part of miscellaneous deductions which are subject to a threshold of 2% of adjusted gross income.
 
To Qualify, the education must fall into one of two categories.  One is that it maintains or improves the skills you need in your present job.  Or the education must be required by law or by your employer if you are to maintain your present position or salary.
 
You can't claim a deduction if the training qualifies you for a new trade or business or if it is to meet the minimum education standards for your current job.
 
If you're self-employed, taking a deduction may be a little easier.  You can generally claim the expense as a business cost, provided it is valid and relates to your current work.
 
Two other points to note.  Different rules may apply if your study is under an established employer-provided education assistance plan.  Also, if you are signed up for more serious study at an accredited college or vocational school, you might be able to take an above-the-line deduction for tuition costs.
 
Please contact us if you have questions about your specific situation.
 
2.  Focus on Fraud:  First Spamming Sentencing
 
In case you missed it, the following link (from early April) is still active and should be noted that fraudulent spamming does not pay!!!
 
 
3.  Tech Tip Weekly:  Saving Web Graphics
 
As you're browsing Web pages with MS Internet Explorer, you may come upon some sites that offer graphic images for downloading.  You can save Web graphics on your computer hard drive in one of the following three ways:
 
-As a graphic file for viewing and printing in the My Pictures folder.  To do this, right-click the graphic and then click Save Picture As on the image shortcut menu.
-As the wallpaper for your desktop.  To do this, right-click the graphic and then click set as Background on the image shortcut menu.
-As a Desktop item that appears on your computer desktop.  To do this, right-click the graphic and then choose Set as Desktop Item on the image shortcut menu.
 
Note that if you save a Web graphic as the wallpaper for your desktop, you have a choice between tiling the image (that is, duplicating it across the entire desktop), centering it in the middle of the desktop, or stretching it so that it fills the entire desktop (which most often results in a severely distorted image).  Also note that some Web graphics (photographs and works or original art, usually) are copyrighted, and Web designers do have a way to disable your right click function while you're surfing their Web sites.
 
4.  Compliance Calendar
 
May 4
-Employers deposit Social Security, Medicare and withheld income tax for payments April 27, 28, and 29.
 
May 6
-Employers deposit Social Security, Medicare and withheld income tax for payments April 30 and May 1, 2, and 3.
 
May 11
-Employers deposit Social Security, Medicare and withheld income tax for payments May 4, 5, and 6.
 
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