The best way as a business owner to file taxes to show a personal income w/o showing my business as income?

Answers:1   |   LastUpdateAt:2012-08-08 09:52:45  

Question
upbeat
Asked at 2012-08-07 11:23:03
I am a new small business owner , I am now able to show a small loss of my taxes has made it difficult for me to request a personal loan. Is there any way I can do my taxes seperatly and not have to prove the loss of the company and show that I still have an income.

My goal is to be able to enter a bank and get a personal loan as I did before owning this business when you just got a W2 from my employer.
Answer1johny g12Answered at 2012-08-08 09:52:45
I do not think what you propose would be the best course of action. Honesty is one of the main things that lenders look for in a person. Lying to them about what is happening with your business is not something you want to do .

Most new businesses lose money initially . What you need to do is prepare a business plan with projections for revenue and expenses during the next 5 years. Bankers look for this information before lending money to new business owners . Never enter a new bank, as he did as an employee . Now you are a business that puts you in an entirely different category .

Be honest and direct. If your business is good, you will be able to obtain financing.

Good luck in your new venture.
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