Student Loans

Pros And Cons Of Paying Off Student Loans Early – Student Debt! Can it Be a Tax Write-Off? | Mark J Kohler | CPA | Attorney

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Pros And Cons Of Paying Off Student Loans Early – Best Deal Right Now?

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19 Comments

  1. T.H. Nguyen
    July 24, 2021 at 9:20 pm

    Thank you! Love your videos!

  2. chase noneya
    July 24, 2021 at 9:20 pm

    Could I write off my fines and everything I need to pay off to get my licence so I can drive myself around for my business

  3. Nathan McBride
    July 24, 2021 at 9:20 pm

    Can my dads company give a gift or charitable donation to help pay off my student loans??

  4. BDB
    July 24, 2021 at 9:20 pm

    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.

  5. Empressive Minks
    July 24, 2021 at 9:20 pm

    Ok so I have a lash company under a LLC not a s Corp so I’m wondering does it work the same

  6. Michael Leahy
    July 24, 2021 at 9:20 pm

    Can you discuss the potential use of a 529 plan in paying 10k in student debts? Thanks!

  7. Cinna P.
    July 24, 2021 at 9:20 pm

    I am absolutely not exaggerating, your are doing God’s work

  8. Jennie Smythe
    July 24, 2021 at 9:20 pm

    Not helpful for students out of school. What about without parents hep. What do you do then?

  9. Steven Rein
    July 24, 2021 at 9:20 pm

    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?

  10. Chey Harden
    July 24, 2021 at 9:20 pm

    Genius!

  11. c2silver
    July 24, 2021 at 9:20 pm

    No mention of FICA tax at 15.3%!!

  12. Jay Patel
    July 24, 2021 at 9:20 pm

    Wondering if you are paying your college kid, then that would be income in their column on FAFSA?

  13. I Am Maximus
    July 24, 2021 at 9:20 pm

    Interesting, subscribed
    Email address or contact info pls. (:

  14. Jason & Stacey Ansley: ansleyRDgroup
    July 24, 2021 at 9:20 pm

    Any reason this wouldn’t work for other items such as life insurance premiums or essentially any other expenses? As I understand it, gift monies (up to $15k from a single source), doesn’t have to be reported and thus what the money is spent on is not of issue. Correct?
    So whether the gift monies received is used for a vacation, student loans, or put into savings, etc…it doesn’t much matter. What matters, is the legitimate payment and the 1099 issued to the person on the board of advisors. Correct?

  15. Charles Johnson
    July 24, 2021 at 9:20 pm

    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?

  16. Captain Kenny B
    July 24, 2021 at 9:20 pm

    Great knowledge! I need you on my side !

  17. What The Function
    July 24, 2021 at 9:20 pm

    are "gifts" accounted for on 1040?

  18. Cody Haas
    July 24, 2021 at 9:20 pm

    How old do your kids have to be to hire them as a 1099?

  19. Simon Martinez
    July 24, 2021 at 9:20 pm

    You Da Man !