I am planning on taking out a loan most likely personal and do a 50-50 split between my business and personal use.
My question is do I have to report the loan on my taxes as income? I don`t remember having to do that before for a small loan I took out almost ten years ago.
The portion that is used for business as working capital how I do I include that in my accounting system? Can 50% of the payment be deductible since it is used for the business?
Thanks for the advice