Do MBA classes for Taxation count for a CPA's CPE if they work in audit and want to move to tax in the future?
I am currently working on a difficult assignment for my Tax accounting class. Our client is working in audit for a company, already has his CPA certificate, and is taking courses towards his Masters of Taxation degree because that's his area of interest for the future, and wants to deduct the expenses, and I need to be able to prove a way this could happen. Our client received his undergrad, his CPA, and is working in the state of Virginia. I have been researching but it has been VERY difficult to anything relevant. From what I have found, it sounds like some of the courses could be deductible for his CPE credit, but I'd like if anyone could provide some feedback as to any rules they may know pertaining to the subject, or if they could point me in a good direction to find a good argument. This assignment is a mock tax court and the IRS has disallowed the deduction and we have to prove why it should be allowed. We are using the CCH database to find codes, regulations, rulings, and cases and need to use them to support and prove the answer...any help/guidance towards codes, regs, or cases would be GREATLY appreciated!! Here is the portion of the issue pertaining to the deduction of the MST course expense: Although Rex is in the audit department of Dewey, Cheatum, & Howe, his interest is in taxation. He hopes to move to the tax department of the firm in the future so he started taking courses at American University to eventually earn a Master of Taxation degree (MST). Rex usually made the round trip for classes each Saturday, but sometimes he remained in DC until Sunday morning if he was too exhausted to drive back to Richmond. Subsequent to his enrollment and unknown to Rex, rules were enacted this past year that provide that the combination of an MST degree and a CPA certificate will qualify an individual for a position teaching taxation at certain business schools. The IRS has disallowed the cost of the MST courses and the cost of traveling to and from DC. Thanks!
Asked By: big n - 12/2/2011
Best Answer - Chosen by Asker
This is a very simple answer...any CPE's that are accepted by the IRS have to be from an approved course by the IRS. Were these courses approved... More
Answered By: Russ B - 12/3/2011
Additional Answers (2)
CPE credits would be noted in the description of the class if they qualified you might have to access the state agency that maintains the qualifications for CPA's in that state
Answered By: tro - 12/2/2011
If I were the judge, I would rule in favor of Rex. The fact that a CPA getting a Masters would qualify him for a teaching position is incidental because his reasonable objective is to become a better CPA. I also suspect that a position teaching taxation at a business school would bring a lower paycheck than Rex, CPA... More
Answered By: Max Hoopla - 12/2/2011
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