Seeking Tax Tip: How to expense seminars, bootcamps, guru materials
Question: Is it best to classify these expenses as education or consultation in order to avoid later IRS scrutiny?On the advice of this site I joined my local REIA. Unfortunately I didn't heed all the warnings. Went to the local conference which I didn't realize was just a sales fest in disguise. I signed up for a bootcamp. At the bootcamp I bought some materials. Was it worth price probably not but lesson learned. Now I'm trying to make lemonade out of lemons. I started LLC, purchased a buy and hold rental, sold an existing rental. Now it's time for taxes. Trying to find an experienced accountant that can provide some bookkeeping advice..running out of time for this year but I want to be able to set up things right in quickbooks before I do hand over to accountant.