Borrowing money from your own business - is it tax free?

Interest rate is high these days, we all know. So, some of our business owners were asking: “can I borrow money from my own company instead of going to a bank?”. Of course, you can! But is there a catch? You do need to set it up properly and correctly to avoid any tax issues. If you're considering this route, listen to Ying today. We will discuss how to do it right, and what it will look like on the tax side for you and your business. Join in!
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ABOUT COMMUNITY CPA
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Community CPA is a firm specializing in growing small and mid-sized businesses. We are your next-level CPA firm and your trusted advisors who speak your language.
Contact us for accounting, advisory & legal, audit and attest, payroll, taxation.
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Community CPA - Des Moines
3816 Ingersoll Ave.
Des Moines, Iowa 50312
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Community CPA - Coralville/Iowa City
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Coralville, Iowa 52241
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Community CPA - Minneapolis, MN
8722 Lyndale Ave. S,
Minneapolis, MN 55420
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Disclaimer: CommunityCPA, as part of our services to our valued clients, is providing these seminars in order for businesses to cope with the current pandemic. We are not responsible for any damages the attendees or viewers may suffer as a result of following any of the advice or information provided. Although we are doing our best to stay informed, the current situation is very dynamic and the information could change at any time without any notice. Our information and advice is not legal in nature and should not be construed as such. Please consult your legal counsel if you should need any legal advice.