Help me

[Hankook]

I started a business by getting loan against my personal car book for 1 million... i want to know is that business expense as i should pay that loan repaymnets

 

[saja]

up

 

[Reincarnator]

 

[luk3r]

expense are tax exempt

 

[Hankook]

@VPS09

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@Nadun26
------ Post added on Nov 1, 2024 at 9:04 AM

 

[VPS09]

Yes. Since you put that loan as your capital. That borrowing is your business borrowing. And interest expenses are tax deductible.

 

[NRTG]

BUMP

 

[Hankook]

Yes. Since you put that loan as your capital. That borrowing is your business borrowing. And interest expenses are tax deductible.

Tnx You are a great soul