BrianFerentz - 1/28/2024 08:21
Kooiker - 1/28/2024 08:15
No you can't deduct the cost of the toys.
Depending on how you structure your business and how you handle the transaction between your business and your personal bank account, yes/no you could/can't legally deduct the interest cost of borrowing the money. If you handle it correctly you are NOT borrowing the money to buy the toys even though that is what you do with it AFTER it is placed in your personal bank account.
You really should visit a CPA sometime to ask your questions.
Good luck with that. Pride comes before the fall.
Save on operating interest or invest in mutual funds?
