Tag Archives: liability

Owner Personal Loan to Small Business

My client, Mary, recently made a personal loan to her small business in the amount of $20,000. This personal loan actually originated from a bank, in which Mary took out in her own name, then she transferred these funds to her business bank account. This loan is also charging interest in which Mary will have

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Deferred Income for Job Build

My client, Katie, currently owns and operates a small home remodeling business. Each month, her client sends to her a $60k check payment as an upfront or prepayment for materials & labor costs. Then Katie proceeds to purchase the necessary materials and labor to continue the project for her client. As Katie’s bookkeeper, I do

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