05 Dec / Loan Calculator
While we find that acquiring loans especially for small businesses can be a vary complicated process, the first step in the process is always to determine its cash impact, that is why we provide the above loan calculator. One of the most concerning issues when taxpayers talk about a loan is that say “but I get to write off the interest”. This is true, but the net result is always a net cash outflow.
When looking at small business loans, understand that bank also want to take the temperature of the owners. Banks will request, personal tax returns and personal financial statements. Your credit score will also be checked. And when it is all said and done, there is a strong possibility that you will be required to pledge personal assets and to sign a personal guarantee.
Tax advice contained in this communication, including attachments and
enclosures, is not intended or written to be used, and may not be used for the
purpose of (i) avoiding tax related penalties under the Internal Revenue Code or
(ii) promoting, marketing or recommending to another party any tax-related
matters addressed herein.