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Sheila is a management consultant who has net earnings from self-employment of $90,000...

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Accounting

Sheila is a management consultant who has net earnings from self-employment of $90,000 in the current year. She has a BBA in business and has ten years of experience in various management positions. She has just completed her first year towards an MBA degree. She paid a total of $30,000 in tuition and fees. She would like to know if she may deduct this education as a business expense against her self-employment earnings. Please explain to her why the expense is or is not deductible.

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