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If an individual lends money to a sole proprietor can the loan be claimed as a business expense?
Wiki User
∙ 16y ago
LOAN OFFER
Hello, I am Dr. Paul Neville, the owner of Neville Loans Investment and Estate. I am a lender who gives out loans to those business and private people who are willing to repay back within the stipulated or agreed period with low rates of 3% most importantly, people that are God fearing and will not run away with my money. I give Collateral and Non Collateral loans with a range amount of $2,000USD to $5,000,000USD. If you want a loan and you have a bad credit, no problem contact me on nevilleloans@Yahoo.com for more informations about my loan and also filling the loan application form below:
Your names .................................
Your country..........................
Your address ..............................
Your occupation .........................
Your marital status ......................
Phone number...........................
Amount Needed...........................
Next Of Kin..............................
Purpose of Loan..........................
Pay Back Duration.....................
Best regards.
Dr. Paul Neville
Chief executive officer,
Neville loans international
Wiki User
∙ 16y ago
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You are a business owner can you deduct your life insurance premiums as a business expense?
As a business owner you can fund the policy from the retained earnings (RE) of the buisiness for individual use or coverage. This will allow the business owner to fund the policy from a pool of money that is taxed at the business level vs his/her individual taxation level (usually highest tax bracket)
What is a business's biggest expense?
Generally, the largest expense of business organizations is payroll. That will have to be qualified depending on the specific industry being discussed.
Where does interest expense in the income statement?
Interest expense is shown at debit side of income statement because it is an expense for business.
Is bad debt expense a variable cost expense?
According to The Entrepreneur's Guide to Writing Business Plans and Proposals that can be found in google books, bad debt expense is a variable expense because the amount of bad debt depends on the amount of sales.
What is a Depreciation Expense in accounting?
Depreciation expense is the process of reducing the cost of fixed asset during the fiscal life of a long term asset through annual fixed amount of expense charged to profit and loss account of business in which that long term asset is utilized in business to generate revenue.
A sole proprietor has incurred as expense out of his personal accont - what will be the journal entry?
The expense account will be debited and capital will be credited by the same ammount
You are a business owner can you deduct your life insurance premiums as a business expense?
As a business owner you can fund the policy from the retained earnings (RE) of the buisiness for individual use or coverage. This will allow the business owner to fund the policy from a pool of money that is taxed at the business level vs his/her individual taxation level (usually highest tax bracket)
Are health insurance premiums a business expense?
If you are paying them for your employees as part of their compensation package, yes, it is a business expense. If it is for yourself, no, it is not a business expense, but it is usually tax deductable under medical costs.
Should an organizer or planner qualify as a business expense?
Wedding planning can be a business expense - it is the same as business or management consultation or production services.
What is fixed expenses?
A fixed expense is an expense that a business or individual is obligated to pay, such as rent or mortgage, utilities, salaries, loans, etc. that cannot decrease over the short term without major changes in resources or facilities
What do you call money spent for business?
Business expense.
Can a business Claim business cards as advertising or business expense?
advertising
What is payroll expense?
A payroll expense is an expense for an employee of a business. It is what is used to pay the workers in a company or organization.
Where can one obtain a business expense report?
One can obtain a business expense report in online resources. For example, the websites concur dot com and entrepreneur dot com provides business expense reports.
Why is outstanding expense is credited in outstanding expense account?
Because it is a liability for business
What is a business's biggest expense?
Generally, the largest expense of business organizations is payroll. That will have to be qualified depending on the specific industry being discussed.
How did totalitarianism come from the expense of others?
A totalitarian regime is established at the expense of individual rights and liberties.
