qualified student loan interest

There’s A Deduction For Student Loan Interest … But Do You Qualify For It?

If you’re paying back college loans for yourself or your children, you may wonder if you can deduct the interest you pay on the loans. The answer is yes, subject to certain limits. The maximum amount of student loan interest you can deduct each year is $2,500. Unfortunately, the deduction is phased out if your…

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interest expense

Matters of Interest: When Are Interest Payments Deductible?

The Tax Cuts and Jobs Act (TCJA) has made a significant impact — both directly and indirectly — on the deductibility of interest expense. Here’s a quick review of where things now stand. 5 types of interest Interest expense generally falls within one of five categories: Business interest, Qualified residence interest, Investment interest, Qualified student…

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