So I have heard that some dentists use paying an
associate’s student loans off as incentive for joining a practice, just like a
hospital does with new MDs. I own my practice and am wondering if I can
use business funds to pay off my student loans in the same manner?
associate’s student loans off as incentive for joining a practice, just like a
hospital does with new MDs. I own my practice and am wondering if I can
use business funds to pay off my student loans in the same manner?
OK. Before everyone
thinks this is some kind of magic trick to get loans tax deductible, it’s not. Even
the loans in the question above aren’t tax deductible.
thinks this is some kind of magic trick to get loans tax deductible, it’s not. Even
the loans in the question above aren’t tax deductible.
Now, the interest portion
of the loans related to the business assets may have been; however, I suspect
that’s a VERY small portion of the loan AND most “student” loans are
for tuition which can’t be sold to any business that I know of.
of the loans related to the business assets may have been; however, I suspect
that’s a VERY small portion of the loan AND most “student” loans are
for tuition which can’t be sold to any business that I know of.