Thinking About Loaning Cash to Your Business?
Are you looking to start a business, or is your current business in need of some cash? Maybe you can’t get a loan from a bank, or maybe you would rather not use a bank. What about lending some of your own money to your company? Can you do that? Yes, you can, but you’ll need to make sure you do it right.
The first thing to be aware of is the need to document your transaction properly. If you decide to loan your business cash in order to purchase more inventory but your company defaults on the loan then you might be able to write the loan off as a business bad debt instead of a loss from an investment.
A business bad debt is helpful because it can help offset other ordinary income like interest and dividend, and W-2 income. It can also serve to create a net operating loss on your individual return in the event that your income is not high enough to offset your business loss.
There are many other aspects of lending money to your corporation and important steps you should take in order to do it right. You can learn more about the process of lending money to your corporation by clicking here. If you would like to speak with us personally then give us a call at 1-877-CPA-2006 or click here to contact us.
The Inspiration for LinkedIn
The Inspiration for LinkedIn with Konstantin Guericke, co-founder of LinkedIn “When you need an investor, or business partner, its usually not someone who you know, but it’s often someone who you know knows” –Konstantin Guericke, Co-Founder of LinkedIn “I am a social architect with a passion for exploring the intersection of psychology, sociology and computing.…
Baseball Analytics- Business & Game Day
Baseball Analytics- Business & Game Day “What’s been Cool to Watch over the Years is how the Role of analytics has increased. More and more people are focused on it and we’re capturing data that now before has ever had access to” -Bill Schlough, CIO of the San Francisco Giants Transcript of : Baseball Analytics-…
How Hal Kellman Averages a 20% Return on the Market
Interview Transcript, How Hal Kellman Averages a 20% Return on the Market Introduction to How Hal Averages a 20% Return on the Market Alan Welcome back. I’m here today with how Kelman the Cameron family office and how welcome to today’s show. Thank you. So hopefully the listeners, can you get the background of how…
Happiness in the Workplace
About Mike Duffy: Happiness is more than a state of being, for Mike Duffy, it’s a passion. Listen as Mike shares an acronym that he’s made up to help you achieve happiness in the workplace. Mike Duffy is an evangelist for happiness. Mike has written 4 books on happiness including, The Happiness Book For Men.…