Paying less taxes
Individuals in business
Solutions for professionals and rental real-estate owners
The interest on your loans becomes tax deductible.
The cash damming technique lets you reduce your income taxes by gradually converting your personal debt, for which interest is not deductible, into new debt to cover your business expenses, for which interest is fully deductible.
Possibility offered to:
- self-employed workers
- sole business proprietors
- rental real-estate owners
- partners in a partnership
The rule: expenses incurred to earn income are generally deductible.
As the owner of a rental property or building used to operate a business, you are eligible for certain tax deductions.
Deductible expenses fall under 3 categories:
- Current expenses
- Capital expenses
- Extraordinary expenditures
These may give rise to a deduction for depreciation.