Posts Tagged ‘MBA student news’

MBA / EMBA students and the deductibility of MBA tuition costs

Wednesday, January 27th, 2010
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.
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Support Haiti Relief and Recovery Efforts

Thursday, January 14th, 2010

The survivors of the devastating earthquake in Haiti need our immediate help. These first 48 hours determines how many lives we can save.

Together, we can help communities get back on their feet.  The Clinton Foundation lists several places you can donate.  You can also text “HAITI” to “20222″ and $10 will automatically be donated and charged to your cell phone.

Another way to help in this time of need is to spread the word.  Please post a message on your Facebook, Linkedin and MySpace pages and other networks you influence.  Blog it, tweet it, talk it and walk it! It will go a long way toward mobilizing people.

As MBA students, you are in the midst of a dynamic community. If there is a drive to support the relief efforts support it, if there is none become a leader and START ONE asap!

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Impact of the downturn on MBA students, MBA schools

Wednesday, January 6th, 2010

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.

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Colleges Face a Financial-Aid Crunch

Monday, March 30th, 2009

Time.com reports on this story. Not breaking news – we have been hearing a lot about this and not great news either!

We hope the new administration has heard the concerns of students and understand the importance of college/graduate education for the future of American competitiveness.  However, before we sit back and expect the government and others to do something about it let us ask the question “What can we do about this?  Are there any creative ways to overcome this? How can I take responsibility here”

Part time jobs?  Entrepreneurship on the side? Opencourses (MIT / Yale)? If you have any creative ideas do email us.

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President Obama’s online town hall meeting

Thursday, March 26th, 2009

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.
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“States disinvesting in higher education”

Tuesday, March 17th, 2009

State colleges and universities are feeling the pinch just like many states themselves!  And they are responding just like the states and other organizations are by doing what they can to survive.  Unfortunately this means a lot of cuts.  Not good news for graduate education.

“The trend line is states disinvesting in higher education.”

So said Jane Wellman, executive director of the Delta Project on Postsecondary Costs, Productivity and Accountability, an organization that studies spending by colleges and universities in this NYT article.

While the mission of public universities and community and state colleges is providing local education, we hope the top universities and boards whose mission is to provide top quality and cutting edge education will not cut back on the investment in graduate education.  While undergraduate education is key for local economies today and in the near future, graduate education and research will be critical for long term growth and success.

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Cheating Goes Global as Essay Mills Multiply

Monday, March 16th, 2009

Thomas Bartlett has reported on how students are cheating with the assistance of online services in the latest issue of The Chronicle of Higher Education.

Great work Thomas!

We at GraduateTutor.com are often approached to do papers and want to once again reaffirm our commitment to adhere to our ethical standards.  GraduateTutor.com adheres to generally accepted University honor codes and expects all students it serves to do so.

Students truly suffer the most from this dishonest practice as they have lost the opportunity to learn what the assignment / task had intended for them to learn!  Read more about what GraduateTutor.com will not do and why here.

What these services do is give the tutoring industry a bad name!  There must be services such as ours that abide by honor codes and established ethical policies.  We hope that these articles will in some way cover or mention the ethical companies too.

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MBA is still a ticket to success in the crunch

Thursday, February 26th, 2009

The Association of MBAs’ survey on the state of 2,000 MBA holders’ careers in June 2008, provides strong evidence that even in these uncertain times, getting an MBA is one of the best things you can do to ensure that you and your skills are in demand.

As an organization catering to MBA candidates, we see many students who go to great lengths to get their MBAs.  We aways tell them that it will be worth it in the end. When these tough times end, and tough times always do,  companies will be looking for smart, efficient people and will be willing to pay them accordingly.

An MBA is an investment that gives great returns.  This is borne out by the above mentioned survey which reports that MBA graduates received an average salary rise of 46 per cent immediately after graduation.

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Tutoring in 2009 – ‘Make Learning Easier’

Friday, January 2nd, 2009

Below is our annual letter to students.  We thought many of you may find it interesting to know where we as an organization are and what we plan for 2009.

Email follows :

Happy New Year!

 

First, I am writing on behalf of all of us at GraduateTutor.com to wish you a great year ahead! May the hard work you put into your studies result in academic success and great personal and professional opportunities in 2009! 

 

Second, we are glad that you chose to get high quality online tutoring and that we had the opportunity to work with you in 2008.  We want to thank you for choosing to work with GraduateTutor.com. 

 

Finally, I want to give you a brief update on where we are as an organization and what we plan to work on this coming year. 

 

We are a year old and are very pleased with the feedback you have provided. While we grow, our continuing focus will remain on “Making Learning Easier” by providing high quality specialized tutoring services. 

 

The following are our immediate priorities. 

 

  • New subjects: We will be adding new subjects.  Advanced finance topics, data analysis tools, decision making, corporate finance case studies and CPA & CFA topics are high on our priority list. 
  • New faculty: We are looking to recruit and train additional faculty this year.  Most of our faculty are MBAs or CPAs and often teach at various universities/business programs.
  • MBA/Campus representatives: We want to expand the number of MBA/Campus representatives in various MBA programs and/or geographic territories. Our representatives are paid commissions and find this opportunity an excellent way to earn a little income on the side. If you are interested or know anyone who may be interested please do let us know.
  • Student Support Center: We are working on developing an offshore support center to eventually provide round the clock service.  We will begin a test initiative this year and expand after evaluating the results.

 

Do share your feedback with us.  We appreciate your thoughts and hope to make this a more valuable service.

 

Happy New Year again! We wish you plenty of success this coming year and look forward to working with you.

 

Sincerely,

 

 

www.GraduateTutor.com

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Graduate Tutor blog launched!

Thursday, December 25th, 2008

We at Graduate Tutor are thrilled to start this blog.  We hope for the following:

 

First, we will use this blog to address the common questions we get from students, potential tutors, college faculty we work with and potential investors.  Questions range from who we are, what we do and where are we located to those on one-on-one tutoring, the technology we use and so on…..  We hope to address these questions and more in this blog. 

 

Second, we hope to bring you news from various MBA campuses that we believe will be interesting to other MBA students. 

 

Finally, we hope to update our students and tutors about the ongoing developments at Graduate Tutor.  We continue to offer new MBA subjects like finance, statistics, operations research, GMAT and GRE test preparation programs as well as to add new textbook-specific tutoring.  We will use this blog to keep you posted on the latest at GraduateTutor.com.

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