Student Debt! Can it Be a Tax Write-Off? | Mark J Kohler | CPA | Attorney
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- čas přidán 8. 09. 2024
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I am absolutely not exaggerating, your are doing God’s work
DO NOT TRY THIS YOURSELF!!! This is definitely something that a seasoned professional should be doing. One microscopic error and you get charged with fraud.
Great knowledge! I need you on my side !
Thank you so much!
Never heard of this. I hope it really works
Thank you! Love your videos!
I like the way you think!!!
Could you provide some examples, with numbers, of how the 1099 board of advisors would apply to an pastor who is married filing jointly and who also has some real estate income?
Huge topic. Sorry. We would need a consult. Bring it up with your CPA or set up an appointment with my firm. Thanks! kkoslawyers.com/
Charles Johnson r
Just checking this video out. What about using a 529 account where you are the beneficiary? With the SECURE Act at the end of 2019, 529s can now be used to pay student loans. So if someone where to put money into a 529, then pay their own student loan with money from the 529 would they then be able to claim a tax credit for the contribution to the 529?
I've already done this. At least to garner some interest. The credit could be required to be clawed back by your state, if they do not change the 529 plan distribution to include student loan repayment to be an eligible use.
Not helpful for students out of school. What about without parents hep. What do you do then?
No mention of FICA tax at 15.3%!!
You Da Man !
Thank you!
Wondering if you are paying your college kid, then that would be income in their column on FAFSA?
Mark, you are a genius. You have great communication skills, as well. Too bad arrears child support cannot be written off, for a father who became disabled. ;(
Can you discuss the potential use of a 529 plan in paying 10k in student debts? Thanks!
I got 10K in forgiveness paying 14 years with no overpay ment from the federal government. Borrowers deserve yo be paid there overpayment.
@@theresabell2492 I don't follow what you are saying
How old do your kids have to be to hire them as a 1099?
Zero years old. Never heard of a baby child actor? (Not financial advice.)
Hi, can I as you a question.
I own a c-corporation. How it will work?
What happens if you make $100,000+ a year but your tax deductions make it so youre only at $70,000 taxable income? Could you get the $2,500 deduction then?
To get your question answered, please submit it to podcast.mainstreetbusiness.com/ OR if you want to get set up with one of our amazing Tax Advisors to dive further into your questions, please head to markjkohler.com/tax-advisor-network/ - thank you!
Sneaky, I feel like it’s our money and government doesn’t know how to spend our money anyway
Can my dads company give a gift or charitable donation to help pay off my student loans??
are "gifts" accounted for on 1040?
Dylan T the recipient of a gift does not need to include the gift inside his or her 1040. Gifts are not taxable income 👍🏻
Only taxable if it’s over the limit, which changes sometimes. But I think it’s still capped at 14k right now
Genius!
Glad you liked it! What did you learn?