0
Do you have to pay taxes on interest you get for money you personally loaned to a business?
Wiki User
∙ 15y ago
Sure...under either scenario...if you did it personally or as a business...the interest RECEIVED is income.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Is a percentage of the amount loaned which is a charge for the use of the money?
INTEREST =op
If you buy a car and there is a lien on it but the car lot goes out of business how do you get the lien off of it?
Contact the entity that loaned you the money to buy the car, be it a bank, loan company, etc. If the selling dealer personally loaned you the money then you need to speak to your local DMV and see what you need to do if you cannot contact the seller.
What is the primary source of income?
storing money for other customers in bank accountsCharging interest on money loaned out.
What is the banks primary source of income?
storing money for other customers in bank accountsCharging interest on money loaned out.
Why do banks pay their customer interest on the money in their savings account?
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
Why do banks pay their customers interest in the money in their savings accounts?
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
Why do banks pay their customers interest on the money in their savings accounts?
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
Why do banks pay their customers interests on the money in their savings accounts?
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
Is capitalism the charging of interest on money that is loaned?
Those are two different things. Interest on loans is one small detail of the overall economy. Capitalism is a general theory about how society and money interact.
What were Marley and Scrooge employed as?
They owned a merchant business, rented properties and loaned money all for profit
When you invest in a mutual fund?
your money gets loaned out to businesses and companies.
What statement best defines the term principal?
The principal is the original sum of money invested or loaned, on which interest is calculated. It is the base amount used to determine future interest payments or investment returns.
