TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

baldwyn-english

Question

My wife is nurse practitioner. She opened her own virtual practice through a PLLC. She's going to earn $100k this year. Can her business pay her student loans?

Forum|Forum|1 year ago
December 1, 2024
2 replies
0 views

No text available

Employee

No. That’s not an expense of her business. Education to start a new business is not deductible. She can deduct the interest on her return to a maximum of $2,500.

Employee

Q. Can her business pay her student loans?

A. No. As others have said, it's not a business expense. It also doesn't qualify as an educational fringe benefit, basically because her business has no other employees. For details on a qualified educational reimbursement plan, see:

https://www.irs.gov/newsroom/reminder-educational-assistance-programs-can-help-pay-workers-student-loans

and the contained link https://www.irs.gov/forms-pubs/about-publication-15-b