All Questions
10
questions
0
votes
1
answer
99
views
Minimizing tax liability in business purchase w/ personal loan from other partner
I'm purchasing an existing business with a business partner. They're in a better position than I am regarding liquid assets. I've got most of my assets in positions where I'd be paying high short term ...
user12007
1
vote
0
answers
128
views
How do I know when my applications for disaster relief loans have been approved?
I applied to all 3 programs as I have a business in NYC:
SBA EIDL - Economic Injury Disaster Loan Emergency Advance
PPP - Paycheck Protection Program
NYC Small Business Continuity Program
I think I ...
- 2,025
2
votes
1
answer
178
views
Get a loan with low interest rate on small business
I'm sure everybody has or had this situation before. Basically, all my income (which is around $7K / month) is being washed off somewhere: rent payment + car payments + different insurances and so on. ...
- 412
4
votes
2
answers
77
views
Criteria for commercial loan so that interest is deductible?
A family member wants to lend me money for a business venture. I want to be able to deduct the interest I pay him as a business operating expense. However, I understand that the IRS is often skeptical ...
0
votes
2
answers
108
views
Is it possible, anywhere in the US for a funding firm to not have a license number showing somewhere? [closed]
I want to get some financing for my small business, I can find hundred of websites that offer such... but their webpages have absolutely no addresses, no license numbers, no names, just a fictitious ...
- 173
2
votes
0
answers
69
views
Am I eligible for a CDC/504 loan as a sole proprietor?
I have a sole proprietor software consultant business, and I am thinking of buying a small office because it would be a better investment than my current office rental. I was looking into loans for ...
- 121
1
vote
1
answer
76
views
Making a personal loan to my business from the proceeds of cashing out my 401k
I had to cash out my 401k and lent the proceeds to my graphic design business to keep it afloat. It was used replace a computer and to pay off business debt. Total loan is $22,000. We had a ...
- 11
0
votes
1
answer
105
views
What kind of taxes should I expect from a business loan interest?
For example, if I lend a small business $100,000, and they'll pay me back $10,000 in one year. How would I expect taxes to be done?
Would the $10,000 be considered ordinary income, or capital gains, ...
- 103
5
votes
2
answers
7k
views
What are the tax implications of lending to my own LLC?
Well, as I mentioned before, I'm buying rental property under the name of my LLC (California). I used cash for the purchases, but the initial investment I made in the company was not enough to cover ...
- 178k
7
votes
1
answer
1k
views
I have a 401k loan used for a house down payment and now I am changing jobs: What should I do?
I guess this could be a cautionary tale, but I am hoping it can be remedied.
I had a job that I am leaving, but I had took a 401k loan to put down on a house. I don't have the money to pay it back ...
- 667