if we invest 25,000 of our own personal money into a regular corp or an llc (that we exclusive...
own) can we deduct the investment expensive. We're not buying anything we are essentially just transfering the $ from one entity to another.
If you are referring to deducting the invest expense for tax purposes then the answer is no. You are making a capital contribution to your company, which is not a deductible investment expense. The caveat is that when your company starts to produce income and you take owner's draws, you will not be taxed until you have received your initial capital contribution back.
by Moataz16 months ago
What do you do if you have 1000000$
by James Robertson5 years ago
You aren't much of a gambler but you decide to buy one lotto ticket. You check up on the numbers a few days later, well after the lotto has taken place, and what do you know? You won!!! You are the newest lotto winner!!...
by greeneryday5 years ago
How would you invest a million dollars?
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What would you do if you win the contest $1,000,000?still remain as a hubber?
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I'm looking for some advice from anyone who has done investing or personal finance planning before. If you had a 5-figure sum of money and wanted to grow that amount into more what would be the best way to utilize it?...
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I am considering publishing a novel under a pen name. I'd like to set up author pages where it is published. Where can I find a legal photo of someone else that I can use as the image that goes with my pen...
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