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can you deduct the interest charged on a cash advance on your merchant account?

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  • can you deduct the interest charged on a cash advance on your merchant account?


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Answer #1 | 08/02 2014 12:34
If this is a business account you are referring to, you can deduct the interest if for business purposes. Most business related expenses you incur can be included on your income statement for tax purposes.
Positive: 35 %
Answer #2 | 08/02 2014 11:39
It depends on what you did with the money.
Positive: 29 %

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