As a sole proprietor can I right off my student loan payments?

I'm a sole proprietor and took out a large student loan about 7 years ago. I continue to make monthly payments. Can I write this off my taxes as a business expense?

As a sole proprietor can I right off my student loan payments?

You took loan for studies, which were very crucial to your existing status in life. Do you think its fair to write off, which uplifted you in many aspects.

My advice;pay back what you owe to the nation.Keep your conscious clear for ever.

As a sole proprietor can I right off my student loan payments?

No.....just the interest like anyone else........but not as a business expense.

As a sole proprietor can I right off my student loan payments?

Along with being a sole-proprietor you are an individual as well, and you have a place on the 1040 to deduct student loan interest on your personal part of the return.

It isn't a business expense, it is student loan interest.

http://www.irs.gov/faqs/faq-kw187.html

good luck

As a sole proprietor can I right off my student loan payments?

You can write off the INTEREST you paid on your student loan, but not the total payment.

As a sole proprietor can I right off my student loan payments?

I do believe that interest on a student loan is deductible for only the first 60 months of the payback period, which means the first five years. If your loan was taken out seven years ago, you're past the time frame during which you may deduct the interest.