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...are your student loan payments deductible from your business expenses if you own a practice?
For example, say you graduate from d-school with $200k in debt, then you work as an associate for a couple years. After associateship, you open your own practice. Can your monthly student loan payments be deducted as business expenses from your practice, even though you took out the loans before you opened the practice? I ask because, even though you took the loan out before opening the practice, you are still incurring the expenses (monthly payments) now.
The thought just occured to me, and I was curious about it, but couldn't find much with an internet search...
Thanks in advance, guys!
For example, say you graduate from d-school with $200k in debt, then you work as an associate for a couple years. After associateship, you open your own practice. Can your monthly student loan payments be deducted as business expenses from your practice, even though you took out the loans before you opened the practice? I ask because, even though you took the loan out before opening the practice, you are still incurring the expenses (monthly payments) now.
The thought just occured to me, and I was curious about it, but couldn't find much with an internet search...
Thanks in advance, guys!