Legal Question in Tax Law in Oklahoma

Business loss

We currently closed our restaurant business. We were operating under an LLC however I have some debt to my business partners via promissary notes that I have to repay totalling about $100,000. I have agreed to repay these notes at a payment of $864 per month for the next ten years. Can you tell me if these payments can be claimed on my yearly tax returns?

Asked on 8/06/07, 9:04 pm

1 Answer from Attorneys

H.M. Torrey The Law Offices of H.M. Torrey

Re: Business loss

Yes, not only can that be legally and properly claimed with the RIGHT tax attorney assistance herein, but you are most likely also entitled to immediate, FREE funding of up to $100K or more, under your specific set of circumstances, and within the next 30 days or less, to pay off what is owed in full, so you do not have to worry about your current 10 year payment plan. If you would like our Law Firm's no upfront cost expertise here, contact us via email or at our toll free number today.

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Answered on 8/06/07, 9:11 pm

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