Last year I spent about $3000 of my own money (on personal credit cards) for costs related to forming my business and LLC. However with no income I couldn`t write anything off in 07.
This year I have a business credit card and checking account so now I can keep the costs separate. I transferred $2000 a few weeks ago and plan on transferring in about $6000 in a week.
How should I document this right now so that I can take out $11,000 of business income as loan repayment and therefore not-taxed? Can I write up a simple loan agreement form? Between myself personally and the business even though we`re one and the same?
Thanks in advance!