Can I deduct is executive coaching tax deductible?
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Executive coaching is deductible as a business expense when it is directly related to improving skills or efficiency in your current business or trade. For example, if the coaching helps you develop leadership skills that enhance your business operations, it may qualify. However, if the coaching is for personal development or to qualify you for a new trade or business, it is not deductible. The expense must be both ordinary (common and accepted in your industry) and necessary (helpful and appropriate for your business).