CAN I PUT NET SALARY AS A BUSINESS LOAN TO THE COMPANY?

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dvj6169
dvj6169 Member ✭
edited June 2022 in Business and Rental Property Tools (Windows)
If I get paid from my (1st) job, but the money is deposited into my business account can I claim that on taxes somehow....or can I use that money as a loan to the business to use for business expenses, etc....? how would I categorize it. thanks in advance
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  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
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    Do you file a Schedule C in your personal tax return for your business?  No it is just W2 income and taxable.    Sure you can use it for whatever you want.  You can't deduct a loan but you can deduct business interest paid.   You can use it to pay actual business expenses. You can deduct the expenses.  

    I'm staying on Quicken 2013 Premier for Windows.

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