Is student debt tax deductible?
Is student debt tax deductible?
Out of context: Reply #3
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- babaganush0
Only way to be sure is to run it by a proper accountant. If you don't have one might be worth a few quid for advice. If it IS I would imagine that it's worth getting their assistance, if not you lose a bit of beer money for advice.
I would surmise that it is not tax deductable primarily from the point of view that it does not coincide with the year that you are doing your return for...also a loan is not a business expense per se but an advance, in that if I borrowed 5k from the bank I couldn't write that off with the tax man but I could write off what it BUYS - I would still need to repay the bank though....
but what do I know...fingers crossed for you.