I have a client who purchased a forclosed home and had to pay ~$25k in back payments. That should be added to the cost of the home, no? He wants to make it an expense.
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Well, of course he does
He has been talking to Joe Mechanic again. You are correct. Besides, only interest is deductible as an expense anyhow. These people.
Well, if it's business property, depreciate the principal, but you know all that. I'll shut up now.Last edited by RitaB; 04-07-2010, 02:10 PM.If you loan someone $20 and never see them again, it was probably worth it. -
I don't know if it's the economy, my client demographic or what, but they're coming out of the woodwork.Originally posted by RitaB View Post
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NT / Don't forget what's important guys
Yeah, they're everywhere.If you loan someone $20 and never see them again, it was probably worth it.Comment
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