Interest expense is a deductible expense for Sole Proprietors on Schedule C, Line 16. The purpose of this article is to make sure you take advantage of the many types of interest expense you are likely to incur in your small business. Line 16 of Schedule C offers two main categories of interest expense: Mortgage interest (Line 16a) and Other (Line 16b). Let’s take a closer look at each of these categories.
Read Full Article