Is College Tuition Tax Deductible for Your Business?

No, college tuition is generally not tax deductible as a business expense. The IRS considers this a personal expense, even if it has some connection to your work activities. However, there may be limited exceptions in specific circumstances.

Key Rules for Deducting College Tuition

College tuition is NOT a business deduction. However, you may qualify for education credits (American Opportunity Credit, Lifetime Learning Credit) on your personal return.

How to Document College Tuition for Tax Purposes

Proper documentation is critical for any business deduction. For college tuition, you should:

• Keep all receipts and invoices showing the amount paid
• Record the date of the expense and the business purpose
• If mixed-use, maintain a log showing business vs. personal usage
• Store records for at least 3 years (7 years for major purchases)

Source: IRS Publication 970. This information is for educational purposes only. Consult a qualified tax professional for advice specific to your situation.