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Updated over 5 years ago on . Most recent reply

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Char Bacheh
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paying a loan is it deductible

Char Bacheh
Posted

if my business is paying some other business loan interest can it be deductible?

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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
Replied
Originally posted by @Char Bacheh:

if my business is paying some other business loan interest can it be deductible?

 Are you saying if your business is paying someone else’s interest expense.

No, that is not ordinary or necessary to your business and is non deductible. 

Is that what you mean? Can you clarify ?

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