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Will we finally get cheaper text books?

admin — Sat, 14 Apr 2012 19:18:00 +0000

The DOJ has sued Apple and 5 other publishers accusing them of colluding to increase the prices of ebooks. Read more in the WSJ and the Huffington Post. While the case is about ebooks in general, we are hoping that it will eventually spill over into text books too.

As MBA tutors, we empathize with the students cost burden. With an already high cost of education (tuition, living, etc) paying $150 for text books really really bothers students. Especially when they find that in 3 or 6 months, these student may never use the book again!

This case is alleging that these publishers met in private dinning rooms to discuss ways in which they can sell ebooks higher in response to Amazon selling them at $9.99 a piece. One wonders what actions cause the price of text books to stay so high!

MBA students: $20 Amazon.com gift card for $10!

admin — Wed, 19 Jan 2011 13:06:33 +0000

Most of us as MBA tutors or MBA students, buy plenty of books from amazon.com. Here is a little gift from Amazon.com and Living Social. Buy a $20 gift card for $10! Thats a 50% discount for you.

Amazon picked up small stake in Living social for $175 million last year to get a toehold in the local deals space. The valuation and size of the stake were not disclosed. I wondered why Amazon.com would not build this themself given the traffic they already generate on their website!

This is a great promo as it serves as a great marketing tool for both companies but more Living Social (IMHO). Im sure Amzaon.com has done their analysis to figure out the $20 value. Probably most people spent on average more than $20 on a purchase there (we do – business/management text books are expensive!).

Enjoy the deal. This doesn’t compare to student aid but Im picking up a gift card.

Is college worth $50,000+

admin — Tue, 05 Oct 2010 02:48:40 +0000

A yahoo finance article on college tuition lists out a few colleges that charge $50,000+ per year! Is college worth this much? Maybe yes. But why would you pay this much when you have plenty of other great options that will cost you only a fraction of this price!

MBA / EMBA students and the deductibility of MBA tuition costs

admin — Wed, 27 Jan 2010 17:40:20 +0000

Note: We are CPA / EMBA tutors and not tax consultants or advisers. Please consult a professional for tax advice.

MBA students have always wondered if their MBA tuition is tax deductible. What about your MBA tutoring costs? The deductibility of MBA tuition and MBA tutoring costs has not been clear. But a recent ruling may provide some clarity. This article by Laura Saunders from yahoo!/wsj.com discusses how Ms Singleton-Clarke, a Maryland nurse, won a battle with the Internal Revenue Service on the deductibility of her MBA tuition! We applaud her for her bravery in taking on the IRS and that too without a lawyer!!

Generally you can deduct “ordinary and necessary” expenses paid in connection with your trade or business as long as it is appropriate or helpful to the business. Taxpayers can deduct education costs, in particular, as “ordinary and necessary” expenses if the education maintains or improves the skills required for the taxpayer’s current trade or business. These rules usually meant that if you are not a lawyer or a doctor and you go to law or medical school, you can’t deduct the cost of your tuition. The IRS argued that business school education and MBA tuition were not “ordinary and necessary” expenses of a business. Doctors and lawyers needed the certification to practice – but you did not need an MBA to be in business or have a career!

However, this ruling essentially states that your MBA / EMBA tuition can qualify as a deduction if you can prove that your MBA and the courses you take improve your business skills and help you grow your career/business. It does not matter if you are a full time MBA student or part time MBA student.

This tax filing season, make sure your tax advisor knows about this ruling and ask if you can qualify to deduct your MBA tuition cost. Check with him on your MBA / EMBA tutoring costs too! Maybe you’ll have more money in your pocket!

Note: We are CPA / MBA / EMBA tutors and not tax consultants or advisers. Please consult a professional before you decide on the above.

Impact of the downturn on MBA students, MBA schools

admin — Wed, 06 Jan 2010 17:11:02 +0000

The EuropeanVoice.com has an interesting article on the impact of the downturn on MBA schools and MBA students.

Unlike many other articles that just state that the number of students or applicants have increased, this one has tried to go deeper. They still have no specific numbers nor have they tried to guesstimate it. But have a ‘guess’ on possible reasons for the changes they see.

President Obama’s online town hall meeting

admin — Thu, 26 Mar 2009 12:06:31 +0000

President Obama is going to do a townhall meeting online!! He has invited everyone to use a new feature called “Open for Questions” to ask a question about the economy and rate other questions up or down.

The first category of questions is on Education. Please take your concerns to the President. Sign in to the site and address your concerns regarding graduate education and graduate tutoring.

“What will you and your administration do to help make college more affordable for every American?” asks Jill from Chicago, IL.

CNN reported the following question on making higher education more affordable

“What is the government doing to make higher education more affordable for lower and middle class families?” asked James who described himself as a full-time student who also works full time, “only to break even at the end of the month.”

Two additional comments:

First let me say that going online is a great move! Being an online service we understand the medium and its potential reach.
Second, please don’t miss this opportunity to take your concerns to the President. Let the world know your concerns regarding graduate education.