If you’re looking to become a truck driver, you’re probably worried about how you’re going to pay for it. This is a normal concern. There is a lot of funding available for truck driving school, which can make it possible for people to attend even if they don’t have the cash available on hand. There are several student aid and continuing education programs available that provide funding for people.
Tax Deductible Truck Driving School
In some cases, you can deduct the cost of truck driving school on your taxes. Being able to do this could save you a significant amount and even allow you to get a refund come tax time.
So, how can you tell if a truck driving school is actually tax deductible? Let’s look at some of the qualifying factors:
- It must be eligible to participate in a U.S. Department of Education-backed student aid program.
- It may be an accredited post secondary school.
- It may be a part of a larger technical school
When evaluating schools like this, you just need to keep focused. That is, see that it qualifies for all the things you want or need. Call them up and ask one by one if they offer student aid, if they are accredited, and if they work with veterans programs. Receiving a “yes” answer to these questions is a good indicator that any expense you pay out of pocket will be tax deductible.
What Kind of Deduction?
Typically, truck driving school would fall under the lifetime learning credit. You can claim this credit and likely see a significant deduction on your overall taxes. So, if you want to become a truck driver, rest assured you don’t need to have an ample savings to make it happen. Take a moment to find out what options you have available by calling 1-800-TRUCKER now or visiting us online at CDLLicense.com. We can help you!