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| Subject:
Loan to officer question
Category: Business and Money > Accounting Asked by: beton7-ga List Price: $40.00 |
Posted:
08 Jan 2005 00:39 PST
Expires: 07 Feb 2005 00:39 PST Question ID: 453981 |
Is there anyway a C corp, (NV) can make a loan to an officer and categorize it as an expense (instead of a taxable account receivable) by maybe deferring the income until the loan is repaid....if not is there any other creative way it could be legally categorized as an expense. |
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| Subject:
Re: Loan to officer question
From: smeeve-ga on 08 Jan 2005 00:56 PST |
No, because in substance you will be avoiding paying tax illegaly. |
| Subject:
Re: Loan to officer question
From: respree-ga on 11 Jan 2005 20:09 PST |
No. To call an item an expense is to say there is no expectation of repayment. |
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