If you are working as a Certified Financial Planner and you pay $500 to your association every year for membership,you can deduct $500 on your personal tax return as
A)union/professional dues as long as you receive a tax receipt.
B)an eligible tax credit as long as you do not get reimbursed for the amount.
C)an employment expense as long as you receive a tax receipt.
D)union/professional dues as long as you do not get reimbursed for the amount.

Question

Quizplus · Accepted Answer

The payment of professional dues to maintain and renew membership in a professional organization is tax-deductible as a union/professional due only if the employee has not been reimbursed for the expense. Therefore, Option D is the most appropriate choice.

If You Are Working as a Certified Financial Planner and You